Anonymous wrote:The answer will depend a lot on the other details of your financial situation (kids, student loan debt, other expenses). DCUM has a reputation for giving extremely conservative advice, so it's always a good idea to run your own budget.
We took out an 800k mortgage back when interest rates were 5% in late 2018 with about 210k in income. We weren't swimming in extra free cash at first, but refinancing has saved us quite a lot on our mortgage payments (our incomes have also increased). So, it's very doable on that income or even less if your other expenses aren't that high. Low interest rates really do make quite a difference.
Yeah, your other debt will be a big factor as well as whether or not you expect your salary to increase.
You will get a lot of conservative advice. (I'll the PP with the mortgage in the mid-700s, which is relatively conservative for this area based on our income, but we made that decision because of some complex factors.) Keep in mind that many of the posters here are older and their advice comes from that perspective.