Anonymous wrote:Technically yes, but you shouldn't. A $700k mortgage is too expensive for what you need for 2 people.
Over the next 5 years:
- pay off the student loans
- save an extra $100k-$200k for downpayment.
-then when you are pregnant or having your 2nd kid, look for the bigger home.

It's excessive at this point in your life.

This depends largely on where you live. In some areas, $950K buys you a 3000sf new construction 4/2 home. In others it buys you a 1000 sf 2/1 fixer. While the former is probably excessive for two people with no immediate plans for kids, the latter isn't, especially. Context is important here.

What is the interest rate on your student loan vs interest rate in the mortgage?

If the interest rate your student loan is higher, pay it off with your downpyment, then do 10% down or whatever % down you have left.

Anonymous wrote: we bought a 875k house with a 170k income and 420k in student loan debt. We started with double that income but the economy tanked and my spouse was out of work for a log time. We survived it. You’ll be fine with those numbers.

my friend did the same thing in 2006. same circumstances. lost their house to foreclosure. they had to start over financially. took about a decade for them to save up again and buy another house.

Technically yes, but you shouldn't. A $700k mortgage is too expensive for what you need for 2 people.
Over the next 5 years:
- pay off the student loans
- save an extra $100k-$200k for downpayment.
-then when you are pregnant or having your 2nd kid, look for the bigger home.

It's excessive at this point in your life.

we bought a 875k house with a 170k income and 420k in student loan debt. We started with double that income but the economy tanked and my spouse was out of work for a log time. We survived it. You’ll be fine with those numbers.

Way too much debt, all in.

Pay your debts first!

Probably fine, unless you might want to SAH or go part-time. What’s the monthly on the student loans?

Sounds insane, but go for it.

Or, buy a $550K house and pay off those loans.

No you can't. You have $158k in student loan.
Why do you have $250k and still haven't paid off this student loan?
Pay it off. You'll have about $100k left for a downpayment. This won't be enough for a $950k house.

Yes, if that's how you want to spend the money.

As a rough rule of thumb, you're looking for mortgage payment + taxes to be under 30% of your pre-tax income. So you want to be spending $8K or less on housing each month, not counting the bonus. You should be able to do that easily for a $700K loan. Put some of the bonus towards the loans each year and knock those out and you'll be good.

You’re fine.

Anonymous wrote:Any kids?

No and not in a next 5 years. In case it will happen earlier my mom is ready to babysit.

Any kids?

Home price 950k
Downpayment 250k
DH salary 210k base plus 65k bonus
My salary 110k

Student loans DH 120k
Mine 38k
No other debt