Reply to s/o--so how did you afford a 2 million dollar home?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Are posters here suggesting that people actually mortgage over $1M?  There's no circumstances that we'd do that (and we've bought homes while we were struggling financially and while we'd qualify for a $3M mortgage).  And I would be shocked if many of the many people in the same financial situation as us would mortgage as much either.  [/quote]

Yes, we bought a 1.27 mil house and the mortgage was 1 mil. We originally had an interest only ARM so we could make the payments. This was pre 2008 and we assumed the house would appreciate a lot like our previous house did. We have since refinanced and got rid of the arm and the interest only loan. Our payment is still about $7000. Per month.[/quote]
And how does that make you feel?  [/quote]

I'm thrilled we have a nice (but not huge or over the top) house in a great, close in neighborhood with good neighbors and a good school nearby. I wish we had a lower mortgage but to me it's worth the sacrifice to live in the neighborhood I want to be in.[/quote]

Fuck! A 1 million mortgage.

No arm. 30-year fixed.  $700k mortgage and we make $475k/yr.  Same type home close-in.  plus-first home worth $775k-$300k left but we rent it for profit.

No other debt.  We invest heavily. No family help.

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