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[quote=Anonymous][quote=Anonymous][quote=Anonymous]It depends on your goal, risk level.

Ours is 5% of gross.  We also want to be able to pay the mortgage from one income. But, our HHI is about $300K so it kind of skews things. We're also older (50s), but even in our 40s, we didn't want the mortgage rope around our necks, so we bought below what our mortgage loan was approved for, and put a large downpayment.[/quote]

When did you buy, what was your down payment, and are you in the DC area?  Because a mortgage payment of $1250/month around here is so unusual it's virtually useless for discussion purposes.

Ours is 10% of gross, which is ~$500k.  $750k mortgage at 2.625%.  PIT is around $4100/month; that does not include insurance.  [/quote]
PP here.. agree. that's why I mentioned our ages. We put down a very large down payment because we could.

But even when we bought our first house in our 30s, the mortgage was only about 5 to 7% of our income.  The mortgage was $500K, monthly payment (just mortgage) was about $2300 or so.  Our HHI back then was higher -- $400K.

I am very risk averse.  I grew up lower income, and lived through the dotcom bomb, the mortgage meltdown, great recession.  I got laid off early in my career once.   I wanted to be able to survive on one income (and there was a time when we had to do that).  We're older than most here, and ageism is real in the workplace.

Living this way has enabled us to save a lot, and we're on track to be able to retire early.  We could not do this had we had a larger mortgage.[/quote]

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