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CaMacho
Sisters :)
Member since 7/06 15112 total posts
Name:
Jess
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Another POLL: What % of your take-home pay (household) goes to your mortgage?
We pretty much know what we can afford based on what DH and I take home every month, but just curious to see the %-ages.
TIA!!!
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Posted 9/26/06 11:02 PM  |
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Kissy331
My two miracles!
Member since 5/06 17826 total posts
Name:
Kristen
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Re: Another POLL: What % of your take-home pay (household) goes to your mortgage?
For us, DH pays the mortgage on his salary only & still saves money. We worked it out this way so I can pay the rest of the household bills & it is even.
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| Posted 9/27/06 8:30 AM |
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TheLorax
LOVE
Member since 2/06 5581 total posts
Name:
Suzanne / SuzBride
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Re: Another POLL: What % of your take-home pay (household) goes to your mortgage?
Posted by Kissy331
For us, DH pays the mortgage on his salary only & still saves money. We worked it out this way so I can pay the rest of the household bills & it is even.
that is also what we are planning. DH will pay the mortgage, and I will pay the utilites, groceries, etc.
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| Posted 9/27/06 8:41 AM |
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riniko
LIF Toddler
Member since 3/06 486 total posts
Name:
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Re: Another POLL: What % of your take-home pay (household) goes to your mortgage?
For those of you who have a large part of one person's salary paying for the mortgage - What do you plan on doing when you have kids with having to pay for daycare or having to stay at home with the kid(s).
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| Posted 9/27/06 11:56 AM |
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antoinette
boy mamma
Member since 5/05 2975 total posts
Name:
Antoinette
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Re: Another POLL: What % of your take-home pay (household) goes to your mortgage?
"they" say that your mortgage should be like 30% of your income( combined if you are married and sharing money)
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| Posted 9/27/06 12:13 PM |
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MrsPorkChop
Twinning!!
Member since 5/05 9941 total posts
Name:
Missy
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Re: Another POLL: What % of your take-home pay (household) goes to your mortgage?
42% of combined income
i voted 51-60 by mistake
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| Posted 9/27/06 12:16 PM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: Another POLL: What % of your take-home pay (household) goes to your mortgage?
Posted by riniko
For those of you who have a large part of one person's salary paying for the mortgage - What do you plan on doing when you have kids with having to pay for daycare or having to stay at home with the kid(s).
Well, when we first buy it is going to be about 40% of our take home pay.
but we arent planning to have kids for about 5 years - so by then with raises, etc our mortgage payment will be much less of a % (we are getting a 30 year fixed)
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| Posted 9/27/06 12:21 PM |
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riniko
LIF Toddler
Member since 3/06 486 total posts
Name:
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Re: Another POLL: What % of your take-home pay (household) goes to your mortgage?
Posted by antoinette
"they" say that your mortgage should be like 30% of your income( combined if you are married and sharing money)
They say 28% of your gross income, poll is about take home pay.
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| Posted 9/27/06 12:22 PM |
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~Colleen~
my loves...
Member since 5/05 9129 total posts
Name:
guess
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Re: Another POLL: What % of your take-home pay (household) goes to your mortgage?
Posted by riniko
For those of you who have a large part of one person's salary paying for the mortgage - What do you plan on doing when you have kids with having to pay for daycare or having to stay at home with the kid(s).
We based everything (mortgage, taxes, bills) on just DH's salary and we bank mine (plus he still banks some of his) for the future so that if we had a child and I wanted to stay home, I could.
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| Posted 9/27/06 12:24 PM |
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pinkandblue
Our family is complete, maybe
Member since 9/05 32436 total posts
Name:
Stephanie
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Re: Another POLL: What % of your take-home pay (household) goes to your mortgage?
20% for me, we got a cheap house  
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| Posted 9/27/06 1:14 PM |
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MrsFlatbread
Skinny jeans are in my future
Member since 6/06 10258 total posts
Name:
Baby Momma
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Re: Another POLL: What % of your take-home pay (household) goes to your mortgage?
Posted by riniko
Posted by antoinette
"they" say that your mortgage should be like 30% of your income( combined if you are married and sharing money)
They say 28% of your gross income, poll is about take home pay.
Right... but now that the prices of houses are increasing quicker than our salaries...I think it's more common for a mortgage payment to eat up more than 30%!
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| Posted 9/27/06 6:13 PM |
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LisaI
Momma's Little Beans
Member since 1/06 3923 total posts
Name:
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Re: Another POLL: What % of your take-home pay (household) goes to your mortgage?
Based on the mortage alone 30%. 70% of Dh's salary goes to the mortgage, all other bills, my savings along with our daughters. all else is banked and or invested.
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| Posted 9/27/06 6:48 PM |
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antoinette
boy mamma
Member since 5/05 2975 total posts
Name:
Antoinette
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Re: Another POLL: What % of your take-home pay (household) goes to your mortgage?
Posted by MrsFlatbread
Posted by riniko
Posted by antoinette
"they" say that your mortgage should be like 30% of your income( combined if you are married and sharing money)
They say 28% of your gross income, poll is about take home pay.
Right... but now that the prices of houses are increasing quicker than our salaries...I think it's more common for a mortgage payment to eat up more than 30%!
really, I wonder what the percentage should be of the take home pay then. I hate when gross income is considered only because who ever gets their gross income- to me you income is what you take home 
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| Posted 9/27/06 7:40 PM |
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MrsFlatbread
Skinny jeans are in my future
Member since 6/06 10258 total posts
Name:
Baby Momma
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Re: Another POLL: What % of your take-home pay (household) goes to your mortgage?
Posted by antoinette
Posted by MrsFlatbread
Posted by riniko
Posted by antoinette
"they" say that your mortgage should be like 30% of your income( combined if you are married and sharing money)
They say 28% of your gross income, poll is about take home pay.
Right... but now that the prices of houses are increasing quicker than our salaries...I think it's more common for a mortgage payment to eat up more than 30%!
really, I wonder what the percentage should be of the take home pay then. I hate when gross income is considered only because who ever gets their gross income- to me you income is what you take home
Exactly!!! Think about it...for someone who makes
100,000 year gross
which would mean:
$8333 per month gross (100000/12months)
which would mean 30% of that = aprox $2500 per month allotted to a mortgage payment!
Message edited 9/27/2006 7:52:02 PM.
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| Posted 9/27/06 7:51 PM |
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CaMacho
Sisters :)
Member since 7/06 15112 total posts
Name:
Jess
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Re: Another POLL: What % of your take-home pay (household) goes to your mortgage?
Posted by riniko
For those of you who have a large part of one person's salary paying for the mortgage - What do you plan on doing when you have kids with having to pay for daycare or having to stay at home with the kid(s).
That's a great question... we don't want to have a mortgage take up a huge % of our salary b/c we know in the future we will have kids and need extra money for that!
I think it's a good idea to have one person's salary cover the mortgage and the other saves and pays the utilities and extras that you need during the month. We are going to try to do this when we have a mortgage!
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| Posted 9/27/06 8:26 PM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: Another POLL: What % of your take-home pay (household) goes to your mortgage?
they use gross income because of the tax savings you get when having a mortgage (interest deductions)
I did a spreadsheet of our Takehome incomes (after medical, 401k, stock, etc) and then all our expenses so we know what we are comfortable with paying.
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| Posted 9/27/06 8:36 PM |
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LulaBell
:)
Member since 1/06 3508 total posts
Name:
J
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Re: Another POLL: What % of your take-home pay (household) goes to your mortgage?
Right now about 42% of our take home goes to mortgage, taxes, insurance etc. This is with 20% down and a 30 year fixed mortgage.
Right now we are saving very little however, because we decided to do immediate repairs and furnish the entire house. So, instead of saving $, we are paying of the 0% interest CC's that we used.
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| Posted 9/27/06 11:29 PM |
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raken40
soooo in love:)
Member since 5/05 4369 total posts
Name:
Karen
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Re: Another POLL: What % of your take-home pay (household) goes to your mortgage?
unfortunately we are probably around 60%.. maybe even higher ..our mortgage is pretty big and we dont make a ton of money..
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| Posted 9/28/06 6:43 AM |
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JandJ1224
Member since 6/06 5911 total posts
Name:
Jannette
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Re: Another POLL: What % of your take-home pay (household) goes to your mortgage?
For those that have one salary pretty much paying mortgage, taxes, insurance, doesn't it make you uncomfortable, what if something happened and you could only be on 1 salary. I am so scared about that.
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| Posted 9/28/06 11:57 AM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: Another POLL: What % of your take-home pay (household) goes to your mortgage?
Posted by JandJ1224
For those that have one salary pretty much paying mortgage, taxes, insurance, doesn't it make you uncomfortable, what if something happened and you could only be on 1 salary. I am so scared about that.
there would be no way we could ever afford to live here on one salary they way the market is today, being first time homebuyers. that is the chance we have to take.
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| Posted 9/28/06 12:09 PM |
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riniko
LIF Toddler
Member since 3/06 486 total posts
Name:
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Re: Another POLL: What % of your take-home pay (household) goes to your mortgage?
Posted by JandJ1224
For those that have one salary pretty much paying mortgage, taxes, insurance, doesn't it make you uncomfortable, what if something happened and you could only be on 1 salary. I am so scared about that.
This is one of our biggest worries. That and how childcare will fall into the place.
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| Posted 9/28/06 12:18 PM |
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riniko
LIF Toddler
Member since 3/06 486 total posts
Name:
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Re: Another POLL: What % of your take-home pay (household) goes to your mortgage?
Posted by Meaghan729
Posted by JandJ1224
For those that have one salary pretty much paying mortgage, taxes, insurance, doesn't it make you uncomfortable, what if something happened and you could only be on 1 salary. I am so scared about that.
there would be no way we could ever afford to live here on one salary they way the market is today, being first time homebuyers. that is the chance we have to take.
Meaghan, have you considered a co-op/condo?
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| Posted 9/28/06 12:18 PM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: Another POLL: What % of your take-home pay (household) goes to your mortgage?
Posted by riniko
Posted by Meaghan729
Posted by JandJ1224
For those that have one salary pretty much paying mortgage, taxes, insurance, doesn't it make you uncomfortable, what if something happened and you could only be on 1 salary. I am so scared about that.
there would be no way we could ever afford to live here on one salary they way the market is today, being first time homebuyers. that is the chance we have to take.
Meaghan, have you considered a co-op/condo?
I wouldnt buy a co-op - and condos on LI really arent that much cheaper than housing!
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| Posted 9/28/06 12:20 PM |
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CaMacho
Sisters :)
Member since 7/06 15112 total posts
Name:
Jess
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Re: Another POLL: What % of your take-home pay (household) goes to your mortgage?
Posted by Meaghan729
I wouldnt buy a co-op - and condos on LI really arent that much cheaper than housing!
We've been looking at condos and here in nassau they aren't much cheaper. I wish they were... that would be a great starting place for us!
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| Posted 9/28/06 12:24 PM |
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True-Joy
LIF Infant
Member since 5/05 292 total posts
Name:
Joy aka janwinterbridejoy
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Re: Another POLL: What % of your take-home pay (household) goes to your mortgage?
Posted by Kissy331
For us, DH pays the mortgage on his salary only & still saves money. We worked it out this way so I can pay the rest of the household bills & it is even.
ditto
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| Posted 9/28/06 12:53 PM |
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