Anonymous
Post 02/25/2024 23:24     Subject: At what HHI would you consider a 1.5mm mortgage
Anonymous wrote:Wow you all live large. We have $1m income and have about $300k mortgage left on a $1.3m townhouse. Of course we could afford a lot more, but I don’t want that kind of risk.


You live very large too.
Anonymous
Post 02/25/2024 23:24     Subject: At what HHI would you consider a 1.5mm mortgage
Anonymous wrote:Wow you all live large. We have $1m income and have about $300k mortgage left on a $1.3m townhouse. Of course we could afford a lot more, but I don’t want that kind of risk.


Meanwhile you sound like you either live super large or choose to not live at all, with $300k mortage on $1M HHI.
Anonymous
Post 02/25/2024 23:20     Subject: At what HHI would you consider a 1.5mm mortgage
Wow you all live large. We have $1m income and have about $300k mortgage left on a $1.3m townhouse. Of course we could afford a lot more, but I don’t want that kind of risk.
Anonymous
Post 02/25/2024 22:07     Subject: Re:At what HHI would you consider a 1.5mm mortgage
Anonymous wrote:HHI ~$1m and I now regret our $1.3m mortgage @5.75%. I wish we bought a cheaper house…


Why? That should be comfortable at your income level.
Anonymous
Post 02/25/2024 19:59     Subject: At what HHI would you consider a 1.5mm mortgage
We did it with 350k
Anonymous
Post 02/25/2024 19:54     Subject: At what HHI would you consider a 1.5mm mortgage
$1m.
Anonymous
Post 02/25/2024 19:52     Subject: Re:At what HHI would you consider a 1.5mm mortgage
HHI ~$1m and I now regret our $1.3m mortgage @5.75%. I wish we bought a cheaper house…
Anonymous
Post 02/25/2024 17:05     Subject: At what HHI would you consider a 1.5mm mortgage
$750k
Anonymous
Post 02/25/2024 17:02     Subject: At what HHI would you consider a 1.5mm mortgage
We did that when Dh earned $1m.

I believe the formula is 3x so you should earn bare minimum 500k but I would not feel comfortable with high interest rates.

When we had a 500k HHI, we had a 800k loan and that was when interest rates were lower.
Anonymous
Post 02/25/2024 15:55     Subject: At what HHI would you consider a 1.5mm mortgage
We did this easily at 500K-800K HHI but rates were much lower. DINKs so no kids or other major expenses yet.
Anonymous
Post 02/25/2024 15:47     Subject: Re:At what HHI would you consider a 1.5mm mortgage
500k, but really depends on so many factors: how much you have in retirement, savings/emergency funds, your ages, expected salary growth, stability of job fields; kids in the future/tuition/college funds, etc. Can you keep mortgage to 25% about gross income?
Anonymous
Post 02/25/2024 15:44     Subject: At what HHI would you consider a 1.5mm mortgage
$750k if it was stable
Anonymous
Post 02/25/2024 15:43     Subject: At what HHI would you consider a 1.5mm mortgage
Run the numbers on a calculator. Why is this hard?
Anonymous
Post 02/25/2024 15:41     Subject: At what HHI would you consider a 1.5mm mortgage
Never.
Anonymous
Post 02/25/2024 15:40     Subject: At what HHI would you consider a 1.5mm mortgage
House is 2.7mm, but we expect to be able to contribute about 1.3mm from cash on hand and equity from current house.