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Reply to "Making 150k with mortgage of 550k?"
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[quote=Anonymous]OP, we are a dual fed family making about $170k/year. We took out a mortgage of $411k ($550k sale price) so we could live off one salary if necessary and so we could have experiences. Decide what is important to you and build a budget based on those things. See what that leaves for a housing budget and go from there. I also second the suggestion to look at a retirement calculator. We save about $35k a year between TSP, Roth, Stocks, and 529. We also save for house renovations/repairs and vacations. If you can do everything you need/want to and still afford the house then go for it. But have an honest conversation about what you want besides a big, new house. [/quote]
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