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How much is your rent/mortgage?

How much you pay for your domicile?

  • 0-10%

    Votes: 23 18.5%

  • 10-20%

    Votes: 35 28.2%

  • 20-30%

    Votes: 50 40.3%

  • 30-40%

    Votes: 11 8.9%

  • 40%+

    Votes: 5 4.0%
  • Total voters
    124
We're at about 15% including escrow. 12 years to go until paid off, but then the mortgage payments just change over to kids' college tuition payments after a year or two break.
 
My modest accommodations were only 18%, but my student loans were 27%

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Liquid Karma said:
Our student loan payment is also more than our mortgage payment.
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Mortgage has been as low as third on the list, behind Aunt Sallie and multiple daycare.

Total payment / gross income = 14.8%
 
jhmd2000 said:
Mortgage has been as low as third on the list, behind Aunt Sallie and multiple daycare.

Total payment / gross income = 14.8%
Click to expand...


Ditto on the daycare double payment for a couple years. Currently our mortgage is only about $100 more per month than our daycare expense.

Everyone else here is doing the calc as a percentage of net income.
 
Deacsfan27 said:
If you have an escrow account then the bank pays for your home insurance do they not?
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It's your money in the escrow account, but the bank moves it over to pay the insurance bill. They don't trust you to insure their security, so they make you pay it into the escrow account, but it's most certainly your money.
 
jhmd2000 said:
It's your money in the escrow account, but the bank moves it over to pay the insurance bill. They don't trust you to insure their security, so they make you pay it into the escrow account, but it's most certainly your money.
Click to expand...

Thanks for the clarification. I usually just deal with the banks in the insurance world. Didn't really know what all was going on there on their side. All I know is that we receive a check from the bank. Didn't know how/where the money came from.
 
Deacsfan27 said:
If you have an escrow account then the bank pays for your home insurance do they not?
Click to expand...

Bank adds property tax and insurance premium to my payment...couple hundred extra bucks a month tacked on to the mortgage payment.
 
not sure on a net basis but mine is 20% on a gross basis. That includes mortgage+ maintenance+ real estate taxes
 
CDeacMan said:
I try not think about it too much because we're going to be moving away from DC this summer after three years, but basically one of our two salaries goes toward our rent. The crazy thing is we actually feel like we're still getting a pretty good deal on our place.
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didn't you do calloway? That's frickin nuts bro. Wayne's gotta teach you better. Live in Rockville or something.
 
Stan Gable said:
not sure on a net basis but mine is 20% on a gross basis. That includes mortgage+ maintenance+ real estate taxes
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You don't know how much money you get every month deposited to your account or you don't know how division works? I are confuse.
 
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You can borrow against your 401k up to $50k I think (so $100k if you're married to someone with a 401k) which helps for initial down payments. We took out $50k a year ago @ 3.25% to help with the down payment with full repayment monthly over five years. Kind of sucks to borrow from yourself but from what I remember the advance rate was reasonable and the 6% match plus pre-tax funds makes a big difference in building a portfolio that can be borrowed against.
 
Over 40%, but that's a combination of both places that I'm paying for together right now. Paying for two places sucks.
 
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