Reply to How much can we afford to spend on home?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I disagree.  Don't go over $800. But really, the issue is your take home v.  The payments.  Give us those numbers and we can help better.  Also, are you looking in a school district that will likely keep your kids out of private?[/quote]

This is shitty advice. $800 is only 2.86 times gross. This is an entirely arbitrary figure. There are various calculators out there and [b]there's a reason the bank pre-approved for 1.2 mil. [/b]

[/quote]

oh my... a fool is born every day.

The reason the BANK or a mortgage broker approves you for $X loan is b/c they stand to gain when you take out a bigger loan.  They also don't care whether you save for retirement, save for kids college, go on vacation, buy clothes, pay for car repairs or pay your gas bill.  That is not their concern.  That should be your concern.  If you want to off-load the decision-making, then at least off-load it to someone who has nothing to gain from the decision (i.e. a financial advisor/author, your mother?, your neighbor? anyone other than "the bank").

Hey fox... do you think I should put the chickens in a henhouse with a lock or without???[/quote]

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