I put 200K down on a 700K house. The $3300 number does include taxes and insurance (should have mentioned that). My original mortgage was costing me $3,900 a month so I changed to an interest only loan. I probably bit off more than I can chew with this house but I'm happy here and have other assets. Still it is a big % of my paycheck every month.
Where do you live?
hollywood hills
What is your monthly nut for housing?
first mortgage $3100; second $675 - both interest only and exlcude property tax and insurance...we pay $2000/mo on the second b/c it has a higher interest rate.
What % of your income goes to housing?
a little less than 20% of our combined pre-tax income (excludes property taxes and insurance - we have to get fire, flood, earthquake, etc since we are in the hills.
hollywood hills
What is your monthly nut for housing?
first mortgage $3100; second $675 - both interest only and exlcude property tax and insurance...we pay $2000/mo on the second b/c it has a higher interest rate.
What % of your income goes to housing?
a little less than 20% of our combined pre-tax income (excludes property taxes and insurance - we have to get fire, flood, earthquake, etc since we are in the hills.
Cheap rental in the best area of Providence. All 3 family houses around here, 2br 1bath 2 parking spots each. I've got a 1st floor for $750, going rate is about $1000-$1100. The owners live in Cali so they don't know the going rate I guess. The houses themselves sell for $400-425k right now. As you can see, tough to cover the rent even if it's not owner occupied. Tons of people split them into 3 condos and sold them for 200k a pop before the market saturated.
About 30% of my take home income, not counting the wife.
About 30% of my take home income, not counting the wife.
