Anonymous
Post 06/10/2018 10:36     Subject: How much mortgage at 400k HHI
Our income is $385K and we easily pay $5K/month in mortgage, max 2 401ks plus save another $75-100K a year.
Anonymous
Post 06/10/2018 10:08     Subject: Re:How much mortgage at 400k HHI
1.2M
Anonymous
Post 06/10/2018 10:00     Subject: Re:How much mortgage at 400k HHI
Anonymous wrote:I wouldn't want my total debt monthly payments to be more than 25% of my income.

+1 but 25% take home pay.
Anonymous
Post 06/10/2018 08:21     Subject: Re:How much mortgage at 400k HHI
Anonymous wrote:Our HHI ranges from 400-500k yearly. We bought a house that was 1.2M and put 20% down. We don’t feel remotely stretched and save a lot (even with two in daycare).


How much do you bring home and how much do you save?
Anonymous
Post 06/09/2018 16:18     Subject: Re:How much mortgage at 400k HHI
Our HHI ranges from 400-500k yearly. We bought a house that was 1.2M and put 20% down. We don’t feel remotely stretched and save a lot (even with two in daycare).
Anonymous
Post 06/09/2018 13:15     Subject: How much mortgage at 400k HHI
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:So your take home is about $15k a month? I wouldn't do more than $5500 a month.


This is really interesting. We bring home about $18k a month with rental income contributing part of that. Our total mortgage related debt is $6300. We have a nanny for one kid and one in school. We do tithe so that takes up 10 percent of our income. Maybe it's the multiple repairs on various properties but I feel things are a bit tight right now for us. Yes we max retirement and save for kids college but I wouldn't choose this amount of mortgage on this salary if I had the choice.


Your budget is tight bc of the nanny/tithing 10 percent combo.


Anonymous
Post 06/09/2018 11:33     Subject: How much mortgage at 400k HHI
Anonymous wrote:
Anonymous wrote:So your take home is about $15k a month? I wouldn't do more than $5500 a month.


This is really interesting. We bring home about $18k a month with rental income contributing part of that. Our total mortgage related debt is $6300. We have a nanny for one kid and one in school. We do tithe so that takes up 10 percent of our income. Maybe it's the multiple repairs on various properties but I feel things are a bit tight right now for us. Yes we max retirement and save for kids college but I wouldn't choose this amount of mortgage on this salary if I had the choice.


Your budget is tight bc of the nanny/tithing 10 percent combo.
Anonymous
Post 06/08/2018 18:20     Subject: How much mortgage at 400k HHI
Anonymous wrote:So your take home is about $15k a month? I wouldn't do more than $5500 a month.


This is really interesting. We bring home about $18k a month with rental income contributing part of that. Our total mortgage related debt is $6300. We have a nanny for one kid and one in school. We do tithe so that takes up 10 percent of our income. Maybe it's the multiple repairs on various properties but I feel things are a bit tight right now for us. Yes we max retirement and save for kids college but I wouldn't choose this amount of mortgage on this salary if I had the choice.
Anonymous
Post 06/08/2018 15:38     Subject: How much mortgage at 400k HHI
2.5 x salary. So 1 million dollar mortgage.
Anonymous
Post 06/08/2018 14:37     Subject: How much mortgage at 400k HHI
So your take home is about $15k a month? I wouldn't do more than $5500 a month.
Anonymous
Post 06/08/2018 14:31     Subject: Re:How much mortgage at 400k HHI
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:Rule of thumb is to buy a house that is double your HHI. We bought ours for 300k (20 years ago) at 150K HHI. It gave us enormous amount of financial freedom and fantastic SOL.


I bought a house that is 3 times my HHI and I'm still saving a lot of money.


Same here. I think other posters have raised good points about how sustainable the income is. I think at $400K you're probably going to find something that works for you that is below the max you can afford.


Ditto. SFH in many desirable areas are almost uniformly $750k+ across the metro area. You think all those people make $400k per year?
Anonymous
Post 06/08/2018 14:22     Subject: How much mortgage at 400k HHI
Anonymous wrote:Houses under 1.5m suffer from either location, schools or it's old


Who, exactly, is suffering?
Anonymous
Post 06/08/2018 14:21     Subject: How much mortgage at 400k HHI
Houses under 1.5m suffer from either location, schools or it's old
Anonymous
Post 06/08/2018 14:10     Subject: How much mortgage at 400k HHI
You can easily afford a million dollar mortgage on that HHI. If you have 500K to put down, then go for a 1.5 million dollar house.
Anonymous
Post 06/08/2018 13:32     Subject: How much mortgage at 400k HHI
Anonymous wrote:
Anonymous wrote:HHI $360k with a $950k mortgage. No issues and save about $3-$4k a month


What's your PITI?


$5900