Help: What percentage of your income do you pay on rent/mortgage? (page 2)

Bluegill

We pay 7.5% of our salary for our mortgage and property taxes.

tec

At the moment, 20 % of our net income for rent. (Its the harley payment and high car/truck insurance payments that kills us)

We're in the process of getting a mortgage (if I survive and have any hair left from all the frustrating extra steps involved with a private/personal sale ) Once we have our mortgage, then we'll be between 20 - 40 % of our net income. (variable mortgage rate) My job is flexible though. I can work more if need be.

Tammy

daniel-p

We pay 7.5% of our salary for our mortgage and property taxes.

You must either live in Oklahoma or make a million dollars a year.

shamus100

Zero debt lovers.... WOOO!!!!

I eat candy every day. KISS ME!

Of course, I don't live in a million dollar house. I still never understand that - who would want to live in a big house with more lawn to cut, more rooms to clean, keeping up a pool.... yuck! Life is meant to live - and having a big house entraps you.

Keep it simple, stupid!

tec

Zero debt lovers.... WOOO!!!!

Does that mean you rent or your house is paid off?

Tammy

Bluegill

daniel p.....I wish!!!! We live in the south. Lower taxes. We put a 33% down payment toward the house. The wife and I both work full time. No kids.

asilentone

Shamus, I agree with you cleaning the big house is a very big job. I cannot complain about the benefits from caretaking of this big house here.

Scarred for life

We pay 12.9% of our gross pay on 2 houses. I consider us to live frugally. There are 5 people in our family. My recommendation is not to commit to too much mortgage payment. You won't have anything left for other things.

beksbks

Daniel, what part of the country are you moving to if I might ask? I assume you have a job or jobs lined up, have you looked at public transportation and surrounding areas? We bought a great house for much less than we could have in the town we work in. But there is a commuter train, it's wonderful.

PS, if your coming to No Cal, let me know I'll scope things out for ya!

Ilovebirthdays

About 16%. We bought 4 years ago, took about 1/2 of what we were approved for for the loan, and put 20% down. Now we are close to being underwater because prices in the area have fallen so much, and we can't refinance, because we would have to take out mortgage insurance, which would wipe out the savings from lower rates. We also have no debt except for the house.

Sometimes I think it would be nice to have taken more and have a bigger house, but we've watched several people we know struggle and lose or almost lose their house, and the peace of mind from not having taken too much and being stretched thin is nice.

Help: What percentage of your income do you pay on rent/mortgage?

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