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MikesBride
LIF Adult
Member since 12/09 1245 total posts
Name:
Ilana
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Percentage?
What percentage of your total monthly income do you spend on mortgage/taxes? We just received our pre-approval and the rough estimate of our monthly payments comes out to almost half our monthly income. Is that normal? TIA!
ETA: I'm referencing our take home, not gross.
Message edited 3/22/2011 8:51:08 PM.
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Posted 3/22/11 6:59 PM  |
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Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
JustJack
:)
Member since 2/06 2041 total posts
Name:
J
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Re: Percentage?
about 30%, which I think about normal.
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| Posted 3/22/11 7:08 PM |
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ChrisDee
My Girls
Member since 11/06 9543 total posts
Name:
Christine
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Re: Percentage?
about 20-25%
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| Posted 3/22/11 11:07 PM |
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maybesoon
LIF Adult
Member since 9/09 5981 total posts
Name:
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Re: Percentage?
50% of take hoe
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| Posted 3/22/11 11:10 PM |
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Re: Percentage?
Posted by ChrisDee
about 20-25%
us, too.
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| Posted 3/22/11 11:17 PM |
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Mrs213
????????
Member since 2/09 18986 total posts
Name:
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Re: Percentage?
35% of gross income
After taxes, 401k, health insurance and that kind of thing it's 45%
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| Posted 3/22/11 11:19 PM |
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CupcakeLady
LIF Toddler
Member since 10/10 423 total posts
Name:
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Re: Percentage?
Something like 25-30%
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| Posted 3/23/11 1:16 AM |
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JRG71
*****************
Member since 5/05 5025 total posts
Name:
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Re: Percentage?
30%, but we over pay our mortgage.
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| Posted 3/23/11 7:23 AM |
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Nifheim
allo
Member since 1/09 5476 total posts
Name:
Jennifer
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Re: Percentage?
I would say 50%
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| Posted 3/23/11 9:17 AM |
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ThePs1023
LIF Toddler
Member since 8/10 377 total posts
Name:
Rachel
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Re: Percentage?
mortgage, taxes and insurance is 25% of take home.
Also remember, just b/c you are pre-approved for a certain amount doesnt mean you should borrow that much. We were pre-approved for significantly more than our mortgage.
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| Posted 3/23/11 9:35 AM |
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neener1211
:-)
Member since 4/07 22952 total posts
Name:
J
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Re: Percentage?
about 45%
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| Posted 3/23/11 9:38 AM |
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luvmyReese
Hello Kitty
Member since 1/08 7542 total posts
Name:
Catt
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Re: Percentage?
Posted by maybesoon
50% of take hoe
sorry but this made me 
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| Posted 3/23/11 9:48 AM |
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Melmel821
Love being a mom!
Member since 5/08 2776 total posts
Name:
Melanie
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Re: Percentage?
If we get this house we are looking at mortgage, taxes and ins to be about 35% of take home.
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| Posted 3/23/11 11:05 AM |
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CaMacho
Sisters :)
Member since 7/06 15112 total posts
Name:
Jess
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Re: Percentage?
Less than 20% of take home for mortgage AND taxes.
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| Posted 3/23/11 11:53 AM |
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MarsB
LIF Adult
Member since 11/10 1456 total posts
Name:
Martha
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Re: Percentage?
Posted by neener1211
about 45%
Ditto
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| Posted 3/23/11 1:19 PM |
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Mill188
LIF Adult
Member since 3/09 3073 total posts
Name:
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Re: Percentage?
48% of my take home salary
0% of DH's (we pay all housing expenses out of my salary)
Overall - 22% of our combined take home pay.
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| Posted 3/23/11 2:22 PM |
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caps612
In love with my little guys!!
Member since 8/10 5108 total posts
Name:
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Re: Percentage?
32% of our combined net pay
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| Posted 3/23/11 3:09 PM |
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CAMCaps
Live Laugh Love Run
Member since 6/07 4922 total posts
Name:
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Re: Percentage?
Mortgage, Taxes, and Insurance 28% of our take home pay.
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| Posted 3/23/11 8:46 PM |
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peanutbutter2
Carpe diem!
Member since 11/10 5287 total posts
Name:
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Re: Percentage?
Just about 25%
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| Posted 3/23/11 10:11 PM |
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memi7206
LIF Adult
Member since 3/11 2355 total posts
Name:
Due Dec 29th!!!!!
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Re: Percentage?
roughly 30% of take home. It varies though bc DH salary is significantly based in commission so on a good month for him, it could be 20%.
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| Posted 3/23/11 11:38 PM |
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KS13
Life is good.
Member since 6/10 1203 total posts
Name:
K
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Re: Percentage?
when all goes through with the house purchase it will be
about 43% of take home
about 30% of gross income
Message edited 3/24/2011 3:09:34 PM.
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| Posted 3/24/11 3:08 PM |
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bird382
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Member since 7/07 1712 total posts
Name:
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Re: Percentage?
22% of take home for mortgage + taxes
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| Posted 3/24/11 3:12 PM |
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MrsPorkChop
Twinning!!
Member since 5/05 9941 total posts
Name:
Missy
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Re: Percentage?
12% of our gross on mortgage taxes and insurance
or 25% of our take home
Message edited 3/24/2011 4:57:03 PM.
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| Posted 3/24/11 4:55 PM |
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gdubs
This baby is awesome!
Member since 11/10 2467 total posts
Name:
Gina
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Re: Percentage?
For our mortgage, taxes and insurance it is 27% of our take home.
Just be careful with the whole approval amount thing. We were approved for up to $1m when we applied for a mortgage... even with 20% down on that it would have been ridiculous for us to take on something that high. I hate that banks do that.
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| Posted 3/26/11 8:00 AM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: Percentage?
about 28% of take home - (and that is after my 401k deduction).
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| Posted 3/26/11 8:35 AM |
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