What % of my net income should my mortgage be?

ADP
dWkU62

Go to company page ADP

dWkU62
May 2, 2020 13 Comments

Buying a house in NY/ NJ area but nervous how much my mortgage should be to be able to enjoy life stress free.

Any advice would be great!
#mortgage #housing

TC: 220K

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TOP 13 Comments
  • Amazon
    NoobMonkey

    Go to company page Amazon

    NoobMonkey
    0. Buy when you can with cash if you want to live stress free.
    May 2, 2020 4
  • Coherent Logix
    Alpha_7

    Coherent Logix

    Alpha_7
    Buy within your means. These mortgages for 20-30 years are ridiculous!

    Imagine if something were to happen to you during that period & you stop working. They can still take away your home! (Technically it's not even your house until you pay back everything).
    May 2, 2020 0
  • They say the magic number is 30%
    May 2, 2020 0
  • IBM
    Trunk

    Go to company page IBM

    Trunk
    Don't buy more house than you need. Also, try to buy on a salary you could attain again if you lost your job.

    We're about to see a lot of foreclosures when all that RSU money runs out from the people that were just laid off.
    May 2, 2020 0
  • Infosys / Eng
    BRY47

    Go to company page Infosys Eng

    BRY47
    I think in NJ property taxes will F you over. Try the suburbs of NY.
    May 2, 2020 0