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Real Estate
Reply to "Would you take a $950k mortgage on 300k salary?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]No way! Our income is btwn 300-350. We pay $2800 monthly. It’s so nice to have the money for home repairs and updates. We can easily afford everything we want to do and save. [/quote] So you have a $300k mortgage. Do you live in the DC area? Did you buy 25 years ago? Ideally everyone should have the lowest mortgage possible but these numbers are not normal for thus area.[/quote] If you bought in DC (lower property taxes especially if the home sold for a ton more than previously) around five years ago and had 20% down with a sub 3% rate you could have bought a house around a $750k.[/quote]
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