Reply to Would you take a $950k mortgage on 300k salary?

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Reply to "Would you take a $950k mortgage on 300k salary?"

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[quote=Anonymous]OP This forum tends to be really conservative because it skews older and a lot of people here bought pre-2020. Technically if you make $300K and the mortgage is $950K you're still around 3x your HHI which is relatively close to the recommended 2.5x.

At the end of the day, only you know what you can spend/afford. We make over double (with a ton of salary ceiling left) and have a $785K mortgage and that feels comfortable to us, but we work in tech so we wanted to buy closer to 1 income. If we made our HHI as doctors where it's almost impossible to get fired, we'd probably have taken a much larger mortgage.

However, we also have friends who make $250K buying $1.25M houses with 5% down because their job security is so good and they have large inheritances from their great great great aunt or whomever coming their way and mom and dad are paying for their kids childcare and private school tuition so saving isn't a factor for them.

So it really depends on your goals / personal situation /etc. [/quote]

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