Reply to What percentage of your take home do you spend on your mortgage & tax every month?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]eh, it's hard to use any guidelines off of net.  Most guidelines you see are something like 28-33% of gross for mortgage and no more than 36% max for all debts.  Net changes dramatically for individuals depending on tax witholdings, health care costs, retirement contributions, etc etc etc.  [/quote]

+1. Not sure why people are posting in net.[/quote]

Because some of us are more financially conservative than others in this respect.  We are at 15% of gross/25% of net and bought about $175K less worth of house than we were approved for.   Lenders don't take into account things like childcare and other household expenses when calculating your approved loan amount.  It was people buying at 100% of their approved max limit and not taking into account other household expenses that brought down the housing market in the first place.[/quote]

I have no idea why you think someone who budgets off of gross automatically bought at their max and didn't take into account other household expenses.  [/quote]

I don't.  Someone asked why people were posting in net.  I explained why we did.  If others calculated differently and it works for them, great.  But I don't get why people are getting so defensive and attacking me for taking a conservative financial approach.  Maybe they're feeling touchy about how much risk/debt they took on and are projecting that defensiveness on me?[/quote]

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