Reply to Just bought an $800,000 house on a $186,000 salary and now I'm panicking....

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Reply to "Just bought an $800,000 house on a $186,000 salary and now I'm panicking...."

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]OP - I posted something similar a while back ($850K home on $300K income) and let me tell ya, I got HAMMERED here and it made me very anxious/stressed out.  After the initial panic, I calmed down and re-ran the numbers.  My very detailed spreadsheet didn't lie.

6 months later, we're doing just fine...

Plan for the worst. Have a back/up plan.  Live your life!  [/quote]

Same here. We bought 1M on 250K income a couple years ago. I should've just trusted my stupid little excel spreadsheet, but I needed external validation. So I posted here. MISTAKE. While this place is great entertainment when your kid's soccer practice is running long; it isn't great financial advice.

2 years later; our income are slightly higher, but not that much (inflation + couple percent). But our financial situation is way better. We bought a house we liked; we locked in payments and started making longer term plans. Heck, we even refinanced; knocking 600/mo off our payments. We kept the course in terms of retirement and college. I get the sense that folks that post here don't fully understand how interest rates work and that the 3x rules they used, were meant for an era with 10% interest rates.[/quote]

Do you think that the OP will be able to refinance to a lower rate in a few years? It's unlikely. We already know that relative to inflation she will be making less in the future since she is a GS-15. [/quote]

A 15 makes between 144 and 172, which means he makes between 14k and 42k. OP is obviously trolling. [/quote]

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