What’s an affordable mortgage for you

[jcamp]

What’s your rule of thumb on mortgage affordability for you and your family? I know there are several schools of thought out there but curious to what you middle class guys think?


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[Greenheadless]

Mortgage, plus taxes and insurance should be no more than 25% of your take home pay.

[JayB]

I like the 25% school of thought also. But it does depend on your other debt load. Most lenders can get you qualified for 40 - 50% debt load so be careful.
You want to have enough $ after payments to repair things, keep up the landscape, and enjoy life.

.....and God Bless America.

[jcamp]

40-50 for mortgage alone or all debt? That’s crazy for mortgage alone


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[jcamp]

I’ve always said i won’t go higher than 28 percent of take home with mortgage. Of course this does include 19 acres too


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[Huntingfool]

Mortgage, plus taxes and insurance should be no more than 25% of your take home pay.

I am a Financial planner for 40 years. what he says. Lower the better

[Phillip Fields]

The general rule of thumb is no more than 28% of gross income for mortgage, including principal, interest, taxes and insurance.

[toledo]

Total debt to income matters way more than mortgage as percentage of income. I once had mortgage payment including taxes and insurance running over 50% of take home pay. But I was a single guy and had no other debt. Now with three kids and two car payments, no way I would get close to that.

[Huntingfool]

Total debt to income matters way more than mortgage as percentage of income. I once had mortgage payment including taxes and insurance running over 50% of take home pay. But I was a single guy and had no other debt. Now with three kids and two car payments, no way I would get close to that.

Well of course. You have a bunch of other debt all bets are off

[jcamp]

For sure


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[jessBsemple]

25% is safe. I would not go more than 33% of gross monthly.

[bphillips]

We are at around 16% of take home for mortgage, tax, and insurance. To me that feels like too much.

[jcamp]

I’ve also heard gross and take home.. not sure which is best to work off of.


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[bphillips]

I’ve also heard gross and take home.. not sure which is best to work off of.


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Take home is the only number you can spend from so that’s what I use

[jcamp]

I’ve also heard gross and take home.. not sure which is best to work off of.


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Man i agree


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