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Posted: 3/26/2019 7:27:20 PM EDT
[#1]
I would say 1/3 of your take home pay is a good starting point if you are a middle income earner.
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Posted: 3/26/2019 7:28:19 PM EDT
[#2]
Arfcommer all pay cash or live in a house for $25k
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Posted: 3/26/2019 7:30:23 PM EDT
[#3]
Mine with esgrow is 7%.
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Posted: 3/26/2019 7:32:30 PM EDT
[#4]
Quoted:
It's all over the internet(so it must be true), your payment should be up to 28-30% of your gross monthly income. Seems crazy to me but that's just me. Since I'm not the typical arfcommer with a paid off house and seven figure bank account I still have a mortgage. So for those other atypical arfcommers, how much of your monthly income is made up of your mortgage. Also, in before muh paid off house. Muh house paid for next month. 
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Posted: 3/26/2019 7:32:44 PM EDT
[#5]
My mortgage is less than 1/3rd of my monthly take home pay. Figure around 28% if the math in my head is somewhat correct.
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Posted: 3/26/2019 7:34:27 PM EDT
[#6]
I'm right around 20%.
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Posted: 3/26/2019 7:34:57 PM EDT
[#7]
16% of net with escrow
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Posted: 3/26/2019 7:35:39 PM EDT
[#8]
40% of my net but I try to be smart about my pretax money
Not optimal but working to improve that |
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Posted: 3/26/2019 7:35:51 PM EDT
[#9]
25%
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Posted: 3/26/2019 7:36:13 PM EDT
[#10]
I'm at about 20% of takehome but hope to pay it off next year.
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Posted: 3/26/2019 7:36:32 PM EDT
[#11]
Mortgage is 24% of gross, 32% of net.
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Posted: 3/26/2019 7:37:28 PM EDT
[#12]
I was at 10% before I paid off the house. My income went up dramatically about 5 years in to the mortgage.
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Posted: 3/26/2019 7:38:24 PM EDT
[#13]
Just below 25% of take home pay including escrow.
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Posted: 3/26/2019 7:38:25 PM EDT
[#14]
Mine is about sixteen percent of my after-tax income. Still have about six years left on a ten-year mortgage.
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Posted: 3/26/2019 7:39:50 PM EDT
[#15]
~18% of net
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Posted: 3/26/2019 7:40:05 PM EDT
[#16]
Around 25% now, but after graduating and getting a competitive job offer in may (mechanical engineer), it will be around 8% of our combined income (not factoring in any overtime).
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Posted: 3/26/2019 7:40:17 PM EDT
[#17]
I'm at a quarter of take home.
I don't think the 25-30% of gross is neccesarily unreasonable if you are otherwise smart with your money. Your market will certainly dictate it as well. |
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Posted: 3/26/2019 7:41:20 PM EDT
[#18]
Quote HistoryQuoted:
Arfcommer all pay cash or live in a house for $25k 
So true |
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Posted: 3/26/2019 7:42:28 PM EDT
[#19]
In before “if you can’t pay with cash, you can’t afford it”
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Posted: 3/26/2019 7:42:59 PM EDT
[#20]
Better to have to mortgage be as little % of monthly income possible, then pay it off early.
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Posted: 3/26/2019 7:45:17 PM EDT
[#21]
Why would you ever measure against gross income.
Should always be net take home pay. Deductions from paychecks vary widely |
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Posted: 3/26/2019 7:45:20 PM EDT
[#22]
I'm at about 24% includes prop tax and ins.
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Posted: 3/26/2019 7:46:47 PM EDT
[#23]
Quote HistoryQuoted:
~18% of net |
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Posted: 3/26/2019 7:47:33 PM EDT
[#24]
~22% of my net. Doesn’t take into account my wife’s salary.
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Posted: 3/26/2019 7:50:05 PM EDT
[#25]
14%
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Posted: 3/26/2019 7:51:49 PM EDT
[#26]
Quote HistoryQuoted:
Better to have to mortgage be as little % of monthly income possible, then pay it off early. Quote HistoryQuoted:
Better to have to mortgage be as little % of monthly income possible, then pay it off early. Quoted:
Why would you ever measure against gross income. Should always be net take home pay. Deductions from paychecks vary widely |
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Posted: 3/26/2019 7:52:19 PM EDT
[#27]
Cash only.
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Posted: 3/26/2019 7:52:26 PM EDT
[#28]
my all inclusive mortgage is about 22% of my gross.
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Posted: 3/26/2019 7:57:37 PM EDT
[#29]
Mine is about 15% ($1050) of my monthly income($6400). My rule of thumb is no more than 15-20% of your monthly income unless you want to see yourself living paycheck to paycheck if some financial emergency happens.
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Posted: 3/26/2019 7:58:06 PM EDT
[#30]
30% of gross is doable for people who are willing to mind a budget and stick to it, but is not easy. 30 gross, is more like 50 net which is what really matters.
The wife and I did that when we purchased in May 2007(FML, still worth less than we paid), with brand new jobs.it sucked. Would have been impossible if we had kids those first couple of years and our savings sucked. 12yrs later, our income has doubled, refinanced, and after sizable 401k savings, we are at 20% of take home. Much better. Think ahead and don't screw yourself out of retirement savings or extra stress just to have a nice house. Some of the happiest memories we have were in shitty apartment's. |
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Posted: 3/26/2019 7:58:07 PM EDT
[#31]
My mortgage was 20% of my take home pay, and I was totally comfortable with that.
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Posted: 3/26/2019 7:59:31 PM EDT
[#32]
25% of net.
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Posted: 3/26/2019 7:59:55 PM EDT
[#33]
10% of my net income not including my wife’s income
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Posted: 3/26/2019 8:02:12 PM EDT
[#34]
About 8% net ; rough numbers.
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Posted: 3/26/2019 8:02:49 PM EDT
[#35]
Quote HistoryQuoted:
10% of my net income That's without escrow. When I did my last ReFi, I told them I didn't want the escrow account and my LTV is plenty below the level that requires PMI. I have that amount auto-transfer to my Ally.com account every month, so at least I'm earning the interest on the escrow. Then I write a check (e-check actually) and pay my homeowners insurance and property tax once a year. |
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Posted: 3/26/2019 8:08:39 PM EDT
[#36]
25% of net
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Posted: 3/26/2019 8:09:11 PM EDT
[#37]
In light of some of the responses are we talking household net, individual gross; what?
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Posted: 3/26/2019 8:09:44 PM EDT
[#38]
30% of gross seems high. Maxing out a 401k and having a mortgage of 30% of take home seems reasonable.
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Posted: 3/26/2019 8:10:27 PM EDT
[#39]
Percentage of your income is not always a formula that has to be followed. Example: What if you bring in $20K per month net and have a $10K house payment? That's 50% of your net income!!
 But, you have $10K more left for the month. Is $10K not enough to live on per month after house payment?
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Posted: 3/26/2019 8:13:49 PM EDT
[#40]
Quote HistoryQuoted:
Mortgage is 24% of gross, 32% of net. |
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Posted: 3/26/2019 8:14:00 PM EDT
[#41]
We are right around 20% of monthly take-home on a fixed 15. Purchased around 4 years ago for $385K with a $110K down payment.
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Posted: 3/26/2019 8:14:11 PM EDT
[#42]
Mine is 10% of my wife and I's gross. Right at 18% of our take home after 401k, healthcare, etc.
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Posted: 3/26/2019 8:15:25 PM EDT
[#43]
Quote HistoryQuoted:
Better to have to mortgage be as little % of monthly income possible, then pay it off early. |
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Posted: 3/26/2019 8:16:06 PM EDT
[#44]
PITI is 28% of net.
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Posted: 3/26/2019 8:18:25 PM EDT
[#45]
11% of gross.
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Posted: 3/26/2019 8:18:53 PM EDT
[#46]
I pay 26% of my take home to the mortgage. A little of that is extra toward the principle.
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Posted: 3/26/2019 8:19:30 PM EDT
[#47]
25% of net income, which is after auto, home and medical insurance. Property taxes add another 10% to that, because FUNY. In total, 21.25% of gross.
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Posted: 3/26/2019 8:19:58 PM EDT
[#48]
My rule is no more then 25% of net income. I'm currently at 11% for a payment but aggressively paying down the principle with additional funds.
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Posted: 3/26/2019 8:21:34 PM EDT
[#49]
About 20% of take home with escrow, but I pay extra to bring it up to about 25%.
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Posted: 3/26/2019 8:21:41 PM EDT
[#50]
Quote HistoryQuoted:
Just below 25% of take home pay including escrow. |
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