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Real Estate
Reply to "If you purchased your home after 2005, what % of your income is your mortgage?"
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[quote=Anonymous]Our PITI is about 12% of our gross. We purchased in 2007, and have since refinanced and paid off the second mortgage. Initially, the PITI was closer to 20 or 25%. To answer the second part of OP's question, we have plenty left over for bills, retirement and college savings, school loans as well as a little more in misc. savings. And we don't have to scrimp in any area of life that is important to us - we eat out some, take trips, etc. But, in isolation, that's not much help to you, OP. Our gross is $250k, so if we couldn't live it up and also save aggressively with 88% of our income, we would need a spending intervention. However, if we made $100K less, things might seem tighter.[/quote]
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