| Posted By |
Message |
checka
She's here!
Member since 5/05 1769 total posts
Name:
Me
|
% of Gross income for mortgage
According to myfico.com, your mortgage, taxes and insurance combined should not exceed 28% of your gross monthly income. Is anyone paying more than 28%? If so, what percentage and is it tough getting by every month?
|
Posted 8/10/05 8:03 PM  |
| |
|
Long Island Weddings
Long Island's Largest Bridal Resource | Prudential Douglas Elliman Real Estate |
hazeleyes33
LIF Adult
Member since 5/05 13060 total posts
Name:
Ginger
|
Re: % of Gross income for mortgage
We are under 28%, by $400/month. When we purchased our home, in 1996, we were just under 28% by a couple of dollars.
|
| Posted 8/10/05 8:34 PM |
| |
|
meganNbobby
Our Family is Complete
Member since 5/05 2774 total posts
Name:
Megan
|
Re: % of Gross income for mortgage
we are paying over by $600: 
but it totally doable... we can't go out to eat go shopping for extra's right now... plus we do have extra bills rightnow becuase we just moved in 3 months ago... like fixing up & repairs etc etc... i was hsicked after i heard how much we had to pay each month.... but it's totally doable...... we both bring hom average salaries... nothing major at all.... but we definitly do need both salaries!!
it all works out!!
|
| Posted 8/10/05 9:56 PM |
| |
|
cjb88
Little Brother
Member since 5/05 3540 total posts
Name:
C
|
Re: % of Gross income for mortgage
i think we will be just at that... we are closing friday, so i will know more soon about how tight or not tight we will be with money!
|
| Posted 8/11/05 1:03 AM |
| |
|
dengal
Dad of Twins
Member since 5/05 1385 total posts
Name:
The 80's Man
Let's Go Mets!
|
Re: % of Gross income for mortgage
It all depends on what your monthly income is. We are paying about 45% and are living fine.
Message edited 8/11/2005 1:06:08 AM.
|
| Posted 8/11/05 1:05 AM |
| |
|
raken40
soooo in love:)
Member since 5/05 4369 total posts
Name:
Karen
|
Re: % of Gross income for mortgage
we are paying more than 50% of our salaries!!
|
| Posted 8/11/05 6:43 AM |
| |
|
MsMBV
:P
Member since 5/05 28602 total posts
Name:
Me
|
Re: % of Gross income for mortgage
we are over by only $200 per month, and we have not yet qualified for STAR. Plus if & when I get my raise/promotion in September, then we will be at 28% within a few dollars.
|
| Posted 8/11/05 11:23 AM |
| |
|
|
|
Re: % of Gross income for mortgage
We spend 23% on our mortgage and 2nd mortgage combined.
|
| Posted 8/11/05 11:48 AM |
| |
|
