What percentage of your monthly take home pay goes to mortgage?

[JustinCruise]

popcorn-eatinggif

 

[DesertDevil]

Exactly 19.9%.

 

[brendanjack]

Probably close to 50% on first mortgage 30 year fix 7.25 and Heloc on variable.

 

[brendanjack]

Bought house in 98

 

[Enfuego]

Probably close to 50% on first mortgage 30 year fix 7.25 and Heloc on variable.

50% of your take home pay goes to your mortgage? That seems high no?

 

[seldomseen]

Probably close to 50% on first mortgage 30 year fix 7.25 and Heloc on variable.

What are you doing paying 7.25%?

 

[seldomseen]

50% of your take home pay goes to your mortgage? That seems high no?

I would say that's got to be around average. You're qualified off of your gross. Take home is going to be less.

 

[michael777]

My house is paid for,but i am old

 

[brendanjack]

50% of your take home pay goes to your mortgage? That seems high no?

It works out ok I have about 5 years left between the 2 and all 3 of my kids in state school daughter at Geneseo sons at community college and working living at home so not over extended

 

[brendanjack]

What are you doing paying 7.25%?

i hear ya actually refinanced twice when bought then heloc And rebuilt house good tip never pay a architect find a draftsperson you’ll save thousands.
paying for a stamp is such a joke

 

[festeringZit]

8%

 

[5teamparlay]

5.8 percent of gross household


we both put more in our 401 than our mortgage

bought in 2003. We did a HARP in 2015 - couldn’t take money out

we have a rate of 3.25 percent. —- thank you Obama


we have over 60 percent equity

 

[SgtLanquel]

Approx 12%

 

[JustinCruise]

9% for me

 

[C.P.]

zero.....

but I'm older...

the taxes suck though....15k a year

 

[seldomseen]

i hear ya actually refinanced twice when bought then heloc And rebuilt house good tip never pay a architect find a draftsperson you’ll save thousands.
paying for a stamp is such a joke

Depending on the size of your loan and the amount of equity it still might make sense to refinance. You can roll in closing costs or pay them out of pocket. Ballpark number $3000. 15 year would probably get you the lowest rate or look into a 7/1 ARM and make extra payments towards principal. You can run break-even calculators to see if it's in your best interest with 8 or 9 years remaining on the note.

 

[Bruins4Life]

"Monthy take home".

Guess a few guys can't actually read. About 25%.
2.34% rate.

 

[Doug]

It's supposed to be 30 percent max, not sure if that is gross or net, the bank wouldn't give you the loan if they thought it was well beyond your means to repay it

 

[The Greatest One]

It's supposed to be 30 percent max, not sure if that is gross or net, the bank wouldn't give you the loan if they thought it was well beyond your means to repay it

Oh yes they would. They can't lose. In most instances of forclosure, they get alot of interest payments and a home to sell

 

[razorbackpicks]

9% for me

you on FI?