4k mortgage reddit. However, a mortgage (+ tax .

4k mortgage reddit. You don't want to feel pressured to work overtime just to pay your mortgage. Currently, I have 50k for a down payment, and I've been talking to a mortgage lender and I can be approved for the limit I"m looking for. Nov 20, 2024 · Our mortgage falls well under the “28 percent” rule, but it actually feels tight because after deductions, we take home only about 60 percent of our salary. so for a 1 million dollar house at an interest rate of 8%, thats a monthly mortgage of 7. . Reply reply FrigidNorthland • We would like to show you a description here but the site won’t allow us. That’s because this is Reddit and the people on house buying subreddits especially skew toward much higher income brackets. We can comfortably afford it, however, I would be lying if I said that seeing $4k (on top of all the other monthly expenses) didn't make me sit down and redo the math. Housing Since I worked in the mortgage industry when I bought this, I didnt have any closing costs so I'm estimating I would pretty much just make my down payment back. Like what? I suppose it depends on area to area and other factors but a 600k loan is going to end up with payments under 4k a month. Is a $7k a month mortgage too much? : r/RealEstate &nbsp; &nbsp; Go to RealEstate r/RealEstate r/RealEstate real estate investing landlords landlord borrowing lending mortgages foreclosure loan houses house apartment financing loans buying a house foreclosures foreclosure forbearance home buying homebuying first time homebuyer We would like to show you a description here but the site won’t allow us. I got a 820k loan pulling < 140k a year and we were totally fine. Dec 19, 2024 · My understanding is that the 5 year rule covers closing costs and moving -- fees that you sink into the 20 purchasing process and don't bring back in equity. However, a mortgage (+ tax For those comfortable sharing, What is your monthly mortgage payment and what is your household income? Got an unexpected "escrow overage" check from mortgage company for ~$4k. Want to add to the discussion? Post a comment! Close to $170k and picking up a $4k mortgage as well. Bank says it's mine to keep, but I'm anxious about spending it. 4k/month, and I live alone. say u knew someone who could help out with 4k a month like a parent, that would leaves me a mortgage of 3. The average daycare is $3k a month in this area and their mortgage is $4k. My wife and I have a $300k Household Income (Conservatively). I imagine I'd only save about $600-800 a month renting an apartment if I sold it. At a salary of 150k per year, thats roughly 4. Lifestyle-wise, I love the house and the area I live in, and living with roommates isnt so bad. With that said, I recommend doing a month where you pretend you have a 4K mortgage by throwing the extra money in savings (and not touching it) and see how that pans out for the month. Help me out: Is a 4k mortgage too much or am I too risk-averse? My wife and I just had our second child and we've outgrown our current space (3 bds, 1680 sq ft) especially as my wife both WFH 50+% of the time. I'm not sure how much you think someone needs to live on but you're really exaggerating everything. ~9. Rent is currently 2. If you have a low mortgage compared to the going rent rates it may be better to stay in home. We would like to show you a description here but the site won’t allow us. 4k a month. If you want to be comfortable and not stress about your mortgage payment, I would try my hardest to get it below 28%. I'm wondering how applicable that is when the cost of renting is so high here. 2k per paycheck or 8. 5k/month base salary takehome I live in a high cost of living area, houses just keep going up. So long savings and investments! What minimum net monthly take home pay (after tax) would you want before taking on a 4K a month mortgage, insurance, and property tax payment? Currently I take home ~10-12k/month on average after taxes (bonus + paychecks). Again, depends on mortgage amount and of course rent in your area so hard to give anyone advise without knowing the details. 5k a month. I wonder if it's worth keeping, or worth selling it to make roughly 50k (before fees). How can anyone say that’s a good idea to have $2k a month leftover for literally everything else. The idea you need to pull 170 for a 600k loan in lunacy. In a lot of real estate markets a $200k income is the price of admission to getting a house. I rationalized keeping it thus far since a $1500 mortgage is still really good for this property in a fast growing, popular area. auop fnrc5l zbi xs yx y6 0hp6 ebms9h 1ujea mkxpet2v