Reply to If your HHI is less than 100k

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]100K last year 
(85K when we purchased our house, and 40K a few years ago, DH's salary, I stay home)

House in downtown Bethesda, bought 2010: fixer-upper, 50% down and $2700 mortgage.

DH took out maximum loan so that we could also pay for renovations to gut the first floor and rebuild.

The key here is that we had saved a significant amount to afford a big down-payment.
[/quote]

that is still a crazy mortgage payment on that salary![/quote]

NP here.  $2700 is 27% of the [i]current[/i] household income - which is a reasonable percentage.  The prior salary ($85,000) would have been a little tighter (at 32%) but regardless- they have shown they have a history of saving (saved up for 50% down).  I would actually argue that the $2700 is not a crazy mortggage payment on that salary.  It may not give room for a lot of extras, but it appears as if the PP can live quite frugrally (hence being able to save the very large down payment).  [/quote]

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