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equalizer.
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February 19, 2008 at 4:02 PM #156057February 19, 2008 at 4:02 PM #156135
Nor-LA-SD-guy
ParticipantI think there is a Volcano starting where they have been having all those earthquakes in Baja (next to the border) last two weeks or so.
February 19, 2008 at 4:03 PM #155759sdrealtor
Participant4X HH Income? Personally I wouldnt go above 3X but I guess I’m just a conservative SOB.
February 19, 2008 at 4:03 PM #156041Participant4X HH Income? Personally I wouldnt go above 3X but I guess I’m just a conservative SOB.
February 19, 2008 at 4:03 PM #156049Participant4X HH Income? Personally I wouldnt go above 3X but I guess I’m just a conservative SOB.
February 19, 2008 at 4:03 PM #156061Participant4X HH Income? Personally I wouldnt go above 3X but I guess I’m just a conservative SOB.
February 19, 2008 at 4:03 PM #156140Participant4X HH Income? Personally I wouldnt go above 3X but I guess I’m just a conservative SOB.
February 19, 2008 at 4:16 PM #155789davelj
ParticipantAssuming 20% down you end up with a $330K mortgage (on a $410K home) and a monthly payment (including taxes and insurance) of about $2,500 (at 6.375%). A couple earning $82,000/year is going to pay about $17,000 in taxes, including SS, medicare, etc. (using my handy California tax calculator, and including the mortgage interest deduction), which leaves about $5,400/month in net after-tax income. So that $2,500 payment is 46% of the couple’s monthly after-tax income. And this is considered “affordable”? There was a time, not so long ago (like prior to 2000…) when it was frowned upon when a mortgage (etc.) payment was going to be greater than 35% of take home pay. My how far we’ve come…
(At current interest rates, a median price of about $300K yields a mortgage payment equal to 35% of after-tax income – at $82K pre-tax – assuming a 20% down payment and the current 30-year mortgage rate of 6.375%.)
February 19, 2008 at 4:16 PM #156071ParticipantAssuming 20% down you end up with a $330K mortgage (on a $410K home) and a monthly payment (including taxes and insurance) of about $2,500 (at 6.375%). A couple earning $82,000/year is going to pay about $17,000 in taxes, including SS, medicare, etc. (using my handy California tax calculator, and including the mortgage interest deduction), which leaves about $5,400/month in net after-tax income. So that $2,500 payment is 46% of the couple’s monthly after-tax income. And this is considered “affordable”? There was a time, not so long ago (like prior to 2000…) when it was frowned upon when a mortgage (etc.) payment was going to be greater than 35% of take home pay. My how far we’ve come…
(At current interest rates, a median price of about $300K yields a mortgage payment equal to 35% of after-tax income – at $82K pre-tax – assuming a 20% down payment and the current 30-year mortgage rate of 6.375%.)
February 19, 2008 at 4:16 PM #156079ParticipantAssuming 20% down you end up with a $330K mortgage (on a $410K home) and a monthly payment (including taxes and insurance) of about $2,500 (at 6.375%). A couple earning $82,000/year is going to pay about $17,000 in taxes, including SS, medicare, etc. (using my handy California tax calculator, and including the mortgage interest deduction), which leaves about $5,400/month in net after-tax income. So that $2,500 payment is 46% of the couple’s monthly after-tax income. And this is considered “affordable”? There was a time, not so long ago (like prior to 2000…) when it was frowned upon when a mortgage (etc.) payment was going to be greater than 35% of take home pay. My how far we’ve come…
(At current interest rates, a median price of about $300K yields a mortgage payment equal to 35% of after-tax income – at $82K pre-tax – assuming a 20% down payment and the current 30-year mortgage rate of 6.375%.)
February 19, 2008 at 4:16 PM #156091ParticipantAssuming 20% down you end up with a $330K mortgage (on a $410K home) and a monthly payment (including taxes and insurance) of about $2,500 (at 6.375%). A couple earning $82,000/year is going to pay about $17,000 in taxes, including SS, medicare, etc. (using my handy California tax calculator, and including the mortgage interest deduction), which leaves about $5,400/month in net after-tax income. So that $2,500 payment is 46% of the couple’s monthly after-tax income. And this is considered “affordable”? There was a time, not so long ago (like prior to 2000…) when it was frowned upon when a mortgage (etc.) payment was going to be greater than 35% of take home pay. My how far we’ve come…
(At current interest rates, a median price of about $300K yields a mortgage payment equal to 35% of after-tax income – at $82K pre-tax – assuming a 20% down payment and the current 30-year mortgage rate of 6.375%.)
February 19, 2008 at 4:16 PM #156168ParticipantAssuming 20% down you end up with a $330K mortgage (on a $410K home) and a monthly payment (including taxes and insurance) of about $2,500 (at 6.375%). A couple earning $82,000/year is going to pay about $17,000 in taxes, including SS, medicare, etc. (using my handy California tax calculator, and including the mortgage interest deduction), which leaves about $5,400/month in net after-tax income. So that $2,500 payment is 46% of the couple’s monthly after-tax income. And this is considered “affordable”? There was a time, not so long ago (like prior to 2000…) when it was frowned upon when a mortgage (etc.) payment was going to be greater than 35% of take home pay. My how far we’ve come…
(At current interest rates, a median price of about $300K yields a mortgage payment equal to 35% of after-tax income – at $82K pre-tax – assuming a 20% down payment and the current 30-year mortgage rate of 6.375%.)
February 19, 2008 at 4:22 PM #155799Eugene
ParticipantI think there is a Volcano starting where they have been having all those earthquakes in Baja (next to the border) last two weeks or so.
So there’s going to be an island there soon?
February 19, 2008 at 4:22 PM #156081ParticipantI think there is a Volcano starting where they have been having all those earthquakes in Baja (next to the border) last two weeks or so.
So there’s going to be an island there soon?
February 19, 2008 at 4:22 PM #156089ParticipantI think there is a Volcano starting where they have been having all those earthquakes in Baja (next to the border) last two weeks or so.
So there’s going to be an island there soon?
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