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Reply to "How much mortgage can we afford?"
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[quote=Anonymous][quote=Anonymous]HHI - $300k Student debt - $250k Car debt and other debt -$50k Retirement fund, IRAs and 401k balance- $170k Monthly fixed expenses: $4k [/quote] In reality, with interest rates so high currently for mortgages, you should really continue renting and focus your efforts on reducing the debt. IMO, I wouldn't take a mortgage until the student debt is gone. With your income, assume 70% is after taxes, so you have $17.5-$4=$13.5K per month left. You can knock out that student debt in less than 2 years if your fixed expenses are really only $4k. [/quote]
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