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][quote]Anonymous wrote:
OP we had two sets of friends recently purchase around this HHI / mortgage amount too. I think it’s working fine for them - they’re doing renos and buying expensive furniture so doesn’t feel like a cash strapped situation. They have family members with $ that can swoop in and “save them” in the event of job less etc and I think that went into their risk calcs too.

Do you really know the details of friends finances.

Even if they both have HHI of public record, there is no way to know if they have a large inheritance, settlement money, crypto $, or being bankrolled by parents. And these friends sound like “working fine for them” = life funded by rich parents[/quote]

+1 Don't measure your situation by what two sets of friends do. Only you know your own complete financial picture. You cannot presume to know the finances of other people unless you are their financial advisor and have seen all of their assets (as well as the assets of their family members who can "swoop in").
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