Anonymous
08/19/2022 09:34
Subject: Re:How much house can we afford?
Purchase whatever you want, and quit gloating.
Anonymous
08/18/2022 20:42
Subject: How much house can we afford?
Anonymous wrote:
What would you say is a comfortable price range for me to consider?
We have:
Paid-off real estate: 1.6M
Mortgage: 175k left
Savings: 1.1M
Income 1: 97K (but plans to retire in 10 yrs)
Income 2: 80.5k (plans to work 15+ yrs)
3 kids in grades 6, 4, 2. We prepaid VA schools 14 semesters and put aside 200k for another.
You can get a 500K mortgage on that income.so add whatever you want on top for total price.
Anonymous
08/18/2022 19:26
Subject: How much house can we afford?
Anonymous wrote:You already live in a home much more expensive than your HHI would normally allow you to afford. You can probably trade up a little bit but your HHI isn't that high so I'd stick below 2.5 or 2
That’s what I don’t get is how the house was that much when the income is modest
Anonymous
08/18/2022 18:45
Subject: How much house can we afford?
You already live in a home much more expensive than your HHI would normally allow you to afford. You can probably trade up a little bit but your HHI isn't that high so I'd stick below 2.5 or 2
Anonymous
08/18/2022 18:39
Subject: Re:How much house can we afford?
Anonymous wrote:Are you trying to communicate that your home worth $1,6 or $1.75 million has a remaining mortgage balance of $175,000 ?
Do you plan to sell this real estate property in order to purchase a new home ?
Yes, correct. We plan to sell.
Anonymous
08/18/2022 18:39
Subject: How much house can we afford?
If you're going to sell the house and all the proceeds will be used towards the new purchase you'll probably be able to afford $2mm ($1.6mm+$400k)