Mortgage doubt

[Konebhar6]

2 hours ago, FrontMan said:

Combined income 160,000$. Monthly mortgage is 5600$

 

Basically 800,000$ for 2450 sq.ft home.. is it worth it ?

 

@Sonu_Patel 

General rule of thumb .. mortgage should be less than 50% of your take home baaa .... make your calculations now ... 

[AvramFaind]

Crunching those numbers is always a crucial step in the mortgage game! While the 50% rule of thumb is a good starting point, it's also super important to factor in other monthly expenses. You know, the coffee addiction, Netflix subscription, and the occasional pizza night!

For some personalized advice, consider chatting with a pro like Mortgage Broker in Blackpool. They could help fine-tune your calculations and guide you towards a mortgage that fits like a comfy sweater.

[amazon]

FHA loan tesukovacha? Any problems?

[amazon]

14 hours ago, amazon said:

FHA loan tesukovacha? Any problems?

👆

[nag]

On 1/24/2024 at 10:55 PM, dasari4kntr said:

ledu bro...india lo investing...i lost opportunity before 2019..(personal and family reasons..)

next 4 years varaku no plans...once my son went to college...may be i will buy somewhere with out this school district..blah blah..

and i am not planning to buy on mortagage... (because i am thinking for retirement in 9 years..)

India investing.. hope it is under your strong control

[csrcsr]

15 hours ago, amazon said:

FHA loan tesukovacha? Any problems?

Don't suggest it go for conventional , you might have little margin interest rates but upfront mip costs, montly mortgage insurance worst 

[amazon]

57 minutes ago, csrcsr said:

Don't suggest it go for conventional , you might have little margin interest rates but upfront mip costs, montly mortgage insurance worst 

Upfront mip enta avudi for $500k house?

[csrcsr]

19 minutes ago, amazon said:

Upfront mip enta avudi for $500k house?

I guess 1.5 to 1.75% of your loan 

[Maoist]

konchem vuchha aapukondi ra babu , dont buy homes now,

covid lo konna valle sasthunnaru, this is not the right time to buy homes. my advice.

[rmJU72]

if you think your annual salary combined can go up to 200k in near future, and safe from layoffs and visa issues, go for it.

if ur stuck in low pay jobs and have visa risks, avoid it.

[amazon]

1 hour ago, csrcsr said:

I guess 1.5 to 1.75% of your loan 

Ok

[veerigadu]

Vaddhuuu.....450K is your max limit. Always yearly household income multiplied by 3 antaru for house. 

Monthly salary multiplied by 5 for your car. 

 

[RULER]

Go for it If you got expectational deal where the similar home previously sold for 900 to 950K so that at least you will have cash on your home when interest rates come down.  something should be worth the risk.

Good location , good school district and job stability is also key for deciding factor.