My Account
Sign up, and you'll be able to vote in polls.
Sign up
Report problem with this ad
Start a related thread
Start a related poll
Reply via Boardmail
Jan 2, 2021
6:31
:31
pm
byuguns55
Truly Addicted User
RE: 50%
Start a related thread
Start a related poll
Reply via Boardmail
Report problem with this ad
byuguns55
Bio page
byuguns55
Joined
Oct 24, 2009
Last login
Jun 12, 2023
Total posts
27,958 (1,287 FO)
Report problem with this ad
Messages
Author
Time
What percentage of your income is considered prudent for a mortgage nowadays?
byuguns55
1/2/21 6:28pm
50%
pink22
1/2/21 6:29pm
RE: 50%
byuguns55
1/2/21 6:31pm
I say 20% or less is ideal.. though not practical for many given
cougfanz
1/2/21 6:30pm
we would keep and rent out when we move
byuguns55
1/2/21 6:32pm
Mortgages are for losers.
Gerald-DeGroot
1/2/21 6:34pm
none taken...
byuguns55
1/2/21 6:37pm
<< Deleted >>
bluecougar1985
1/2/21 6:38pm
okay guys, I get it. I wished I had $750,000 socked away in order to pay
byuguns55
1/2/21 6:39pm
$750,000!?!? No wonder you have a mortgage!
Gerald-DeGroot
1/2/21 6:50pm
Sorry, I failed to read the body of your post and answered a question you
bluecougar1985
1/2/21 6:58pm
no worries brother!
byuguns55
1/2/21 7:13pm
If you are really disciplined, I think 50% is fine,
bluecougar1985
1/2/21 7:00pm
To be clear, I’m not advocating a bigger house, but a quicker payoff.
bluecougar1985
1/2/21 7:02pm
Have you tried dog yet?
Gerald-DeGroot
1/2/21 7:03pm
doing our best to steer clear!
byuguns55
1/2/21 7:14pm
My old man went there on the mission in the 70’s. He says
Gerald-DeGroot
1/2/21 7:20pm
Completely depends on income, other debt/monthly obligations, etc.
byubyu
1/2/21 6:39pm
When i was getting one i think they said no more than 40%
Heath Squashwell
1/2/21 6:40pm
was that the bank or financial advisor advice?
byuguns55
1/2/21 6:43pm
Bank
Heath Squashwell
1/2/21 6:57pm
To really get a grip on finances you should keep your dependency rate or
Nat Gas Man
1/2/21 6:41pm
Depends on other debt but lenders want to see less than 40% of income going to
BIG XII Coug
1/2/21 6:46pm
Understood...I guess I should've phrased it this way: if you can't pay cash
byuguns55
1/2/21 6:54pm
For conforming loans it is max 28% of gross to mortgage + costs, 36% all debt.
Bandit
1/2/21 6:46pm
Conventional wisdom used to be between 25 and 33%. In DC area, I see 35 to 40%
Iman23
1/2/21 6:49pm
says my realtor!
byuguns55
1/2/21 6:54pm
Everyone is different by my goal was 25% of my net monthly income. It’s not
rivercitycoug
1/2/21 6:50pm
28%. See 28/36 rule.
AF Cougar
1/2/21 6:59pm
Homes, no more than 3 x annual salary and cars no more than 1/3 annual salary.
DwigtA2RM
1/2/21 8:04pm
The former is literally impossible for 95% of the people. Make $70K...
jjshol1126
1/2/21 10:09pm
That was true before interest rates ranked. You can afford a little more now
Nat Gas Man
1/2/21 10:15pm
Report problem with this ad
Posting on CougarBoard
In order to post, you will need to either
sign up
or
log in
.
Report problem with this ad
