Anonymous
Post 05/14/2018 11:51     Subject: How much mortgage at $240k income?
Do you plan to have any more kids?
Anonymous
Post 05/13/2018 11:08     Subject: How much mortgage at $240k income?
Anonymous wrote:At that income we could afford a $3500 monthly payment without any issues.



+1 This would be comfortable imo. We stretched for a $4600 PITI (860K house). It's been fine, but building savings is definitely slower.
Anonymous
Post 05/13/2018 09:55     Subject: How much mortgage at $240k income?
At that income we could afford a $3500 monthly payment without any issues.
Anonymous
Post 05/13/2018 09:09     Subject: How much mortgage at $240k income?
35hrs a week, $20/hr, HHI ~550k
Anonymous
Post 05/13/2018 08:21     Subject: How much mortgage at $240k income?
at 240k, we have a 3500 mortgage and one kid in daycare. It is fine. We dont have tons of extra money but are comfortable
Anonymous
Post 05/13/2018 07:23     Subject: How much mortgage at $240k income?
That’s our income. Our mortgage was 535k and manageable.
Anonymous
Post 05/13/2018 07:21     Subject: How much mortgage at $240k income?
Anonymous wrote:
Anonymous wrote:I would say max house price would be $900K - so whatever the mortgage is for that.


That’s nuts


Yeah, I'd go at $650,000 at most.
Anonymous
Post 05/13/2018 06:53     Subject: How much mortgage at $240k income?
Our HHI is now about $230K and we have a PITI of $3,500. The mortgage was originally $600K and total purchase price was $750K. We have plenty of money for savings although I will add that we live a relatively simple life. I agree with the posters above that you need to run your budget and back into a monthly payment amount that allows you some room for savings.
Anonymous
Post 05/13/2018 04:00     Subject: How much mortgage at $240k income?
240000
-$37,000 retirement
-$4,800 health?
-25% taxes?
Net 12,387/mo?
-1,300 daycare
-college savings?
$11,087 net without college?

I personally would not spend more than 1/3 of that (after college) on PITI. So a total PITI of $3,600. Purchase price doesn't matter. Only downpayment and interest rate does to get to a reasonable mortgage.
Anonymous
Post 05/12/2018 22:00     Subject: How much mortgage at $240k income?
Anonymous wrote:We make that and our mortgage is $400k with a monthly all is at $2300. We could’ve taken in more but wanted to put $700 per month onto each of the following account - two 529s, vacation, and general savings and we pay an extra $500 on the mortgage. Plus we have good disposable income beyond that.

So, all this means, run your own budget, see how you want to adjust your expenses to accommodate your mortgage.


This is us exactly at $250k and one child. It works.
Anonymous
Post 05/12/2018 20:43     Subject: How much mortgage at $240k income?
We make that and our mortgage is $400k with a monthly all is at $2300. We could’ve taken in more but wanted to put $700 per month onto each of the following account - two 529s, vacation, and general savings and we pay an extra $500 on the mortgage. Plus we have good disposable income beyond that.

So, all this means, run your own budget, see how you want to adjust your expenses to accommodate your mortgage.
Anonymous
Post 05/12/2018 20:27     Subject: How much mortgage at $240k income?
Anonymous wrote:I would say max house price would be $900K - so whatever the mortgage is for that.


That’s nuts
Anonymous
Post 05/12/2018 20:23     Subject: How much mortgage at $240k income?
I would say max house price would be $900K - so whatever the mortgage is for that.
Anonymous
Post 05/12/2018 20:10     Subject: Re:How much mortgage at $240k income?
How much DP and other savings? We recently took on a $3700/mo PITI at $225k HHI and it’s been fine.
Anonymous
Post 05/12/2018 19:50     Subject: How much mortgage at $240k income?
Between spouse and I we make $240 pre-tax (also pre-bonus, but we’re not going to count that for now). Looking to buy soon and wonder folks opinions on the maximum mortgage we’ll qualify for and how much we should spend. We have no other debt and have a preschooler at $1300 a month in child care.