2&2 Slider To Leyritz
Well-known member
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.
With escrow, about 10%.
After 401k contribution and including escrow and insurance I'm about the same...
My modest accommodations were only 18%, but my student loans were 27%
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Our student loan payment is also more than our mortgage payment.
Mortgage has been as low as third on the list, behind Aunt Sallie and multiple daycare.
Total payment / gross income = 14.8%
After 401k contribution and including escrow and insurance I'm about the same...
If you have an escrow account then the bank pays for your home insurance do they not?
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.
All I know is that we receive a check from the bank. Didn't know how/where the money came from.
If you have an escrow account then the bank pays for your home insurance do they not?
I'm gonna guess the scale is a bit different Doctor...
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.
not sure on a net basis but mine is 20% on a gross basis. That includes mortgage+ maintenance+ real estate taxes