Fuck no Even with that down payment, you will be living paycheck to paycheck You didn’t share your bonus or RSU numbers so I didn’t not take them into consideration.
You speak from experience I assume.
You got it
No
Don't do it, unless you plan to hang out in your backyard for life.
What is your Total Comp and debt to income ratio, do you have kids?
If you don’t mind renting rooms out, most of your mortgage might be covered by that
While the ratios are roughly the same, this is a more realistic plan than the other dudes with twice your TC trying to buy a $2.2M home, because of the law of large numbers (sort of). Work your ass off to get to $300k TC and you’ll start to breathe better with that mortgage. You’ll still be dragging a massive ball and chain but it’s much easier for you to double your TC than it is for them. Assuming you’re an engineer.
Need to know total comp to advise
I haven’t done the math, but I think this would bring your housing expense to just under 30% of the pre-tax pay. I’m sorry, but that seems precarious.
30% of pre-tax doesn't make sense for high income, it's just a guide
Sure, the higher the income gets, the further you want to be from 30%. So what I’m saying is, sounds like a bad idea.
You should rather buy a $300k home in cash. Fk Bay area and move to a lcol area and work remote to earn that $180k base
🤭🤔
I am more concerned about this username than the price tag of the new home.
Yes