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waiting for bottom
Participantarrife22-
That assumes you can pay off your house – I can’t.
Besides, not making prudent use of leverage just leaves opportunities on the table.
If I have to choose between $2000 in interest or $2000 in rent – all else being equal I will pay interest because of the tax deduction.
Participantarrife22-
That assumes you can pay off your house – I can’t.
Besides, not making prudent use of leverage just leaves opportunities on the table.
If I have to choose between $2000 in interest or $2000 in rent – all else being equal I will pay interest because of the tax deduction.
Participantarrife22-
That assumes you can pay off your house – I can’t.
Besides, not making prudent use of leverage just leaves opportunities on the table.
If I have to choose between $2000 in interest or $2000 in rent – all else being equal I will pay interest because of the tax deduction.
Participantarrife22-
That assumes you can pay off your house – I can’t.
Besides, not making prudent use of leverage just leaves opportunities on the table.
If I have to choose between $2000 in interest or $2000 in rent – all else being equal I will pay interest because of the tax deduction.
Participantasianautica – Not really on the 401k. My wife’s employer does not match but provides a pension instead (inefficient state gov’t – but that’s another topic).
No, you currently cannot get a $700K loan for 5.5%. Flaw with my logic – for now.
Many things can happen between now and the time I buy. The conforming loan limit could revert back to $697K; banks could start doing 80% 2nd’s again which would allow me to get a $550K conforming plus $150K 2nd. Who knows what else…that’s what makes this so much fun.
$2200 is my budget today, and I currenly live in a 3000 sq ft rental.
Participantasianautica – Not really on the 401k. My wife’s employer does not match but provides a pension instead (inefficient state gov’t – but that’s another topic).
No, you currently cannot get a $700K loan for 5.5%. Flaw with my logic – for now.
Many things can happen between now and the time I buy. The conforming loan limit could revert back to $697K; banks could start doing 80% 2nd’s again which would allow me to get a $550K conforming plus $150K 2nd. Who knows what else…that’s what makes this so much fun.
$2200 is my budget today, and I currenly live in a 3000 sq ft rental.
Participantasianautica – Not really on the 401k. My wife’s employer does not match but provides a pension instead (inefficient state gov’t – but that’s another topic).
No, you currently cannot get a $700K loan for 5.5%. Flaw with my logic – for now.
Many things can happen between now and the time I buy. The conforming loan limit could revert back to $697K; banks could start doing 80% 2nd’s again which would allow me to get a $550K conforming plus $150K 2nd. Who knows what else…that’s what makes this so much fun.
$2200 is my budget today, and I currenly live in a 3000 sq ft rental.
Participantasianautica – Not really on the 401k. My wife’s employer does not match but provides a pension instead (inefficient state gov’t – but that’s another topic).
No, you currently cannot get a $700K loan for 5.5%. Flaw with my logic – for now.
Many things can happen between now and the time I buy. The conforming loan limit could revert back to $697K; banks could start doing 80% 2nd’s again which would allow me to get a $550K conforming plus $150K 2nd. Who knows what else…that’s what makes this so much fun.
$2200 is my budget today, and I currenly live in a 3000 sq ft rental.
Participantasianautica – Not really on the 401k. My wife’s employer does not match but provides a pension instead (inefficient state gov’t – but that’s another topic).
No, you currently cannot get a $700K loan for 5.5%. Flaw with my logic – for now.
Many things can happen between now and the time I buy. The conforming loan limit could revert back to $697K; banks could start doing 80% 2nd’s again which would allow me to get a $550K conforming plus $150K 2nd. Who knows what else…that’s what makes this so much fun.
$2200 is my budget today, and I currenly live in a 3000 sq ft rental.
ParticipantNo, my math is with 20% down and a 5.5% rate. With HOA, total payment would be around $5300.
Take home pay on $210K at 67% net is $11,725 per month. 67% includes $3000 pre-tax for health care and $15500 pre-tax for 401k. It also includes 7% state tax, 11% effective federal rate or 19% on taxable income (interest deduction helps huge) and full FICA.
This leaves $6425 after house payment. I spend about $2200 on groceries/gas/utilities, leaving $4225. Take out another $1600 for cars/student loans/daycare, then $800 to max out IRA’s. I still have $1825 left over for household and entertainment. Very comfortable for me.
I’d much rather have a $4000 or less mortage to have a bigger downside buffer in the case of income loss.
ParticipantNo, my math is with 20% down and a 5.5% rate. With HOA, total payment would be around $5300.
Take home pay on $210K at 67% net is $11,725 per month. 67% includes $3000 pre-tax for health care and $15500 pre-tax for 401k. It also includes 7% state tax, 11% effective federal rate or 19% on taxable income (interest deduction helps huge) and full FICA.
This leaves $6425 after house payment. I spend about $2200 on groceries/gas/utilities, leaving $4225. Take out another $1600 for cars/student loans/daycare, then $800 to max out IRA’s. I still have $1825 left over for household and entertainment. Very comfortable for me.
I’d much rather have a $4000 or less mortage to have a bigger downside buffer in the case of income loss.
ParticipantNo, my math is with 20% down and a 5.5% rate. With HOA, total payment would be around $5300.
Take home pay on $210K at 67% net is $11,725 per month. 67% includes $3000 pre-tax for health care and $15500 pre-tax for 401k. It also includes 7% state tax, 11% effective federal rate or 19% on taxable income (interest deduction helps huge) and full FICA.
This leaves $6425 after house payment. I spend about $2200 on groceries/gas/utilities, leaving $4225. Take out another $1600 for cars/student loans/daycare, then $800 to max out IRA’s. I still have $1825 left over for household and entertainment. Very comfortable for me.
I’d much rather have a $4000 or less mortage to have a bigger downside buffer in the case of income loss.
ParticipantNo, my math is with 20% down and a 5.5% rate. With HOA, total payment would be around $5300.
Take home pay on $210K at 67% net is $11,725 per month. 67% includes $3000 pre-tax for health care and $15500 pre-tax for 401k. It also includes 7% state tax, 11% effective federal rate or 19% on taxable income (interest deduction helps huge) and full FICA.
This leaves $6425 after house payment. I spend about $2200 on groceries/gas/utilities, leaving $4225. Take out another $1600 for cars/student loans/daycare, then $800 to max out IRA’s. I still have $1825 left over for household and entertainment. Very comfortable for me.
I’d much rather have a $4000 or less mortage to have a bigger downside buffer in the case of income loss.
ParticipantNo, my math is with 20% down and a 5.5% rate. With HOA, total payment would be around $5300.
Take home pay on $210K at 67% net is $11,725 per month. 67% includes $3000 pre-tax for health care and $15500 pre-tax for 401k. It also includes 7% state tax, 11% effective federal rate or 19% on taxable income (interest deduction helps huge) and full FICA.
This leaves $6425 after house payment. I spend about $2200 on groceries/gas/utilities, leaving $4225. Take out another $1600 for cars/student loans/daycare, then $800 to max out IRA’s. I still have $1825 left over for household and entertainment. Very comfortable for me.
I’d much rather have a $4000 or less mortage to have a bigger downside buffer in the case of income loss.
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