Reply to am i insane for considering this? 820k mortgage on a 240k income

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[quote=Anonymous]I think you are looking at PITI around $4.5K.  3% rate on jumbo = $3.4K + $160 insurance + 900 property tax (1.1% assumed tax rate) for a total of $4,465.

By comparison, we have a similar HHI but we have two kids in full time daycare for a total of $2.7K per month and a PITI of $3K per month plus we have a $1K per month student loan payment combined (no car payment which I see you have).

We max retirements, do backdoor Roths and contribute $1K to 529s per month.

You probably can do this but what matters here is how much money you guys spend per month.  Some DCUM folks live very lavish lifestyles and spend a lot per month, others like me don't.  You really need to think about what you currently spend per month and how that fits into what your new budget would look like with the higher mortgage.  I would also take a closer look at what "limited upside" means in your situation.  Two GS-15s at the bottom of the step ladder is different situation than two maxed out GS-12s. [/quote]

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