Reply to would you take out a mortgage that is half of your take home pay?

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[quote=Anonymous][quote=Anonymous]In your situation I would advice against it, since you will have so little left at the end of the day so if emergencies arise, you could be sol or go into cc debt since your 6k is not much of an emergency fund. I do think it's doable but very risky. Its also (and granted I have never worked for federal government so don't know) risky if the 6500 figure assumes no retirement contribution (I am thinking you are quoting after investment/retirement but one of your sentence made me question that).

If this was a situation where both you and a spouse were going into it (and say both of your take homes were 6500 each ie 13k after everything) and were thinking a 6k mortgage, then I would say yeah doable since 7k is a decent amount left over for other stuff. But alone and half may be tough.

Given your income I assume you are between 25 and 30. If so, id also say no mainly because at that age you want to chill with friends, go out and etc, and with 1k left, you will miss out on experiences. [/quote]

I contribute 5% to retirement (already factored into net salary I mentioned in original post)[/quote]

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