Anonymous
01/13/2018 00:19
Subject: Re:How much is your mortgage PITI if your HHI is around $120?
Anonymous wrote:Our HHI is 180K, but when we bought our home, we bought at a price we could afford if I took a 50% pay cut, which would bring our HHI down to 120k. Our PITI is 2300.
Oh, and I obviously can't weigh in on whether or not we feel strained, since we're definitely not. I would feel strained because I grew up poor and have money/financial security issues. But that's my own baggae, and not necessarily the truth. We'd probably have a slower go building our savings, or replenishing them if depleted, but I don't doubt that we would be fine with that mortgage payment on that HHI.
Anonymous
01/13/2018 00:10
Subject: Re:How much is your mortgage PITI if your HHI is around $120?
Our HHI is 180K, but when we bought our home, we bought at a price we could afford if I took a 50% pay cut, which would bring our HHI down to 120k. Our PITI is 2300.
Anonymous
01/12/2018 10:14
Subject: How much is your mortgage PITI if your HHI is around $120?
Including child support, my HHI is about that much.
My PITI is just under $2,500. There isn't a ton of money left over at the end of the month after all the household expenses, kid expenses, 401K/529 savings, etc.
My PITI is just under $2,500. There isn't a ton of money left over at the end of the month after all the household expenses, kid expenses, 401K/529 savings, etc.
Anonymous
01/12/2018 07:42
Subject: How much is your mortgage PITI if your HHI is around $120?
OP here, I'm asking because I'm thinking of quitting my job and taking a substantial pay cut. Our current piti is 4200 which is great with current income, but trying to figure out what to do if I take a lower paying job. I have a cash flow neutral investment property that would net me 300k, so I'm thinking it might be an option to refinance my current mortgage with a lump sum payment after I sell that property, rather than move to a totally new place.
Anonymous
01/12/2018 07:21
Subject: How much is your mortgage PITI if your HHI is around $120?
Anonymous wrote:Purchased in August 2016
At the time we made 125k combined, purchased current home for 550k with 5% down in NE DC
Payments were about $3,200/month for the first 9 months then after they adjusted the property taxes calculations it went down to $3,050/month.
Hope to have 80% equity by this coming August to get ride of PMI which is ~$400/month of our total
Payments reducing our mortgage to $2,650/month.
Yes $3,200 was a lot and we would not recommend it to everyone but we are frugal, always lived in HCOLA cities so used to 50% of our take home going to the rent/mortgage (so no surprises) and adjusted just fine.
Depending on your mortgage you may not be able to drop pmi just by reaching 80%
Anonymous
01/12/2018 01:37
Subject: Re:How much is your mortgage PITI if your HHI is around $120?
$2200 (not including HOA fee)
Anonymous
01/12/2018 01:04
Subject: How much is your mortgage PITI if your HHI is around $120?
Purchased in August 2016
At the time we made 125k combined, purchased current home for 550k with 5% down in NE DC
Payments were about $3,200/month for the first 9 months then after they adjusted the property taxes calculations it went down to $3,050/month.
Hope to have 80% equity by this coming August to get ride of PMI which is ~$400/month of our total
Payments reducing our mortgage to $2,650/month.
Yes $3,200 was a lot and we would not recommend it to everyone but we are frugal, always lived in HCOLA cities so used to 50% of our take home going to the rent/mortgage (so no surprises) and adjusted just fine.
At the time we made 125k combined, purchased current home for 550k with 5% down in NE DC
Payments were about $3,200/month for the first 9 months then after they adjusted the property taxes calculations it went down to $3,050/month.
Hope to have 80% equity by this coming August to get ride of PMI which is ~$400/month of our total
Payments reducing our mortgage to $2,650/month.
Yes $3,200 was a lot and we would not recommend it to everyone but we are frugal, always lived in HCOLA cities so used to 50% of our take home going to the rent/mortgage (so no surprises) and adjusted just fine.
Anonymous
01/11/2018 22:54
Subject: Re:How much is your mortgage PITI if your HHI is around $120?
$2300. It’s fine but we max 401ks so it’s a very large chunk of our take home.
Anonymous
01/11/2018 22:48
Subject: How much is your mortgage PITI if your HHI is around $120?
1700. Daycare about that too.
Anonymous
01/11/2018 21:42
Subject: Re:How much is your mortgage PITI if your HHI is around $120?
We were able to swing $2300 at that income.
Anonymous
01/11/2018 16:26
Subject: How much is your mortgage PITI if your HHI is around $120?
How much is your PITI and do you feel strained? FWIW my childcare expenses are low ($700/month) and we do not plan on having more kids; we have no other debts. Thanks for the feedback!