OP here. Thanks for the responses everyone.

My question is not what mortgage I can afford -that I can work out. I am curious as to what people in my income bracket actually have - only possible on an anonymous forum like this.

But as a PP pointed out, any color you can provide on your data much appreciated

HHI 400K, current mortage 400K

we are thinking about moving (our current house is worth around 575K and is very small). we are looking at homes 1mm or less. partly because we wouldn't have the $ to put down on a more expensive home. if we had more for downpayment then we might consider up to 1.2mm

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:These threads (what, 10-12 a week?) are so silly because it totally depends on your other expenses and your overall financial situation beyond your HHI.

For example - our HHI is around 200k. House cost $1mil. But - no mortgage (beyond $1k/mo in insurance/taxes) because we bought it with an inheritance.

You need the whole picture.

Why are you chiming in? You don't have a mortgage. Humble congrats brag to you.

Not that poster, but the amount of the mortgage now has no bearing on OP's question. People make more or less money, they refinance. If the question is, how much mortgage can a given family afford with that HHI, yes, we need to know the poster's net worth, age, debt levels, etc. How else could you give any intelligent insight?

Maybe the question should be what is the largest loan we can take on 400k HHI assuming no debt

Anonymous wrote:

Anonymous wrote:These threads (what, 10-12 a week?) are so silly because it totally depends on your other expenses and your overall financial situation beyond your HHI.

For example - our HHI is around 200k. House cost $1mil. But - no mortgage (beyond $1k/mo in insurance/taxes) because we bought it with an inheritance.

You need the whole picture.

Why are you chiming in? You don't have a mortgage. Humble congrats brag to you.

Not that poster, but the amount of the mortgage now has no bearing on OP's question. People make more or less money, they refinance. If the question is, how much mortgage can a given family afford with that HHI, yes, we need to know the poster's net worth, age, debt levels, etc. How else could you give any intelligent insight?

Anonymous wrote:

Anonymous wrote:These threads (what, 10-12 a week?) are so silly because it totally depends on your other expenses and your overall financial situation beyond your HHI.

For example - our HHI is around 200k. House cost $1mil. But - no mortgage (beyond $1k/mo in insurance/taxes) because we bought it with an inheritance.

You need the whole picture.

Why are you chiming in? You don't have a mortgage. Humble congrats brag to you.

That's not the point. My HHI is lower than everyone else's on this thread. The point is that HHI is only one factor that should weigh into how much mortgage people can afford, yet it's asked here all the time.

Anonymous wrote:These threads (what, 10-12 a week?) are so silly because it totally depends on your other expenses and your overall financial situation beyond your HHI.

For example - our HHI is around 200k. House cost $1mil. But - no mortgage (beyond $1k/mo in insurance/taxes) because we bought it with an inheritance.

You need the whole picture.

Why are you chiming in? You don't have a mortgage. Humble congrats brag to you.

These threads (what, 10-12 a week?) are so silly because it totally depends on your other expenses and your overall financial situation beyond your HHI.

For example - our HHI is around 200k. House cost $1mil. But - no mortgage (beyond $1k/mo in insurance/taxes) because we bought it with an inheritance.

You need the whole picture.

Anonymous wrote:

Anonymous wrote:We are in the market to buy a house and was playing around with the CNN how much house can i afford calculator. It said a house of 2.5 million!!! which made me fall over in surprise. Obviously judging by the other thread on a 6000 mortgage it is not the norm either and this calculator seems out of sync.

We are thinking of something more along 1.5 but this made me curious.

How much is your monthly mortgage if your income is at this level?

To be honest you could afford it you just chose not to.

This.

To be honest, I tend to think the mortgage payment threads on here are a subtle way for the high HHI earners to brag about how frugal they are.

Does someone really need 10,000+ a month after paying for their house? Of course not.

Our HHI was around $300k when we bought our house 6 years ago and we paid a little over a $1MM with a $650k mortgage. Our HHI is now $550k and we refinanced a couple of years ago to a 15 year.

I remember the calculators told us we could afford more but to be honest, with child care expenses, 529 savings, retirement savings, etc. - I feel we bought at the right level without being unduly stressed. We could probably afford more now but then we would have to go back to a 30 year.

The more you make the less the normal percentages matter. I mean how much money does a person need for food and clothing?

I would say you should stay under $1.2M

My HHI is 900k and we bought at $2.25M with $1M down.

Anonymous wrote:We are in the market to buy a house and was playing around with the CNN how much house can i afford calculator. It said a house of 2.5 million!!! which made me fall over in surprise. Obviously judging by the other thread on a 6000 mortgage it is not the norm either and this calculator seems out of sync.

We are thinking of something more along 1.5 but this made me curious.

How much is your monthly mortgage if your income is at this level?

To be honest you could afford it you just chose not to.

PITI is $3800 on that HHI

$0

When we bought, we made $184,000 and spent $350,000.

When we bought, our income was around $400k. Mortgage amount of $800k on a $1m house.

We are in the market to buy a house and was playing around with the CNN how much house can i afford calculator. It said a house of 2.5 million!!! which made me fall over in surprise. Obviously judging by the other thread on a 6000 mortgage it is not the norm either and this calculator seems out of sync.

We are thinking of something more along 1.5 but this made me curious.

How much is your monthly mortgage if your income is at this level?