Sonu_Patel Posted February 3, 2023 Report Share Posted February 3, 2023 Callling financial experts, Average ga oka 800K plus home ki mortgage payment average $5.5k per month ostundi.. our monthly take home net is $10k after all 401k, health insurance, other deductions .. blah blah What do you suggest ? For example if any one in family gets laid off, in that case net amount will be less. how are people able to make these financial decisions. Quote Link to comment Share on other sites More sharing options...
JAMBALHOT_RAJA Posted February 3, 2023 Report Share Posted February 3, 2023 Savings untay kada job vache varaku savings and other salary tho manage cheyadame Quote Link to comment Share on other sites More sharing options...
Sonu_Patel Posted February 3, 2023 Author Report Share Posted February 3, 2023 calling @Vaampire for insights. Quote Link to comment Share on other sites More sharing options...
Sonu_Patel Posted February 3, 2023 Author Report Share Posted February 3, 2023 @JambaKrantu Quote Link to comment Share on other sites More sharing options...
Sonu_Patel Posted February 3, 2023 Author Report Share Posted February 3, 2023 @Android_Halwa Quote Link to comment Share on other sites More sharing options...
Complex Posted February 3, 2023 Report Share Posted February 3, 2023 both working ? Planning to put 20% down ? you have factor P & I + Taxes + Home Insurance + PMI+ HOA + Utilities and also Maintenance costs. At least 6-8 months savings for payments bank lo unte better. 2 Quote Link to comment Share on other sites More sharing options...
Complex Posted February 3, 2023 Report Share Posted February 3, 2023 If you are comfortably paying rent now , Current rent ki mortgage payments ki too much diff unde la chusukoku bro , this will help to plan payments and home budget. 1 Quote Link to comment Share on other sites More sharing options...
Sonu_Patel Posted February 3, 2023 Author Report Share Posted February 3, 2023 Just now, Complex said: both working ? Planning to put 20% down ? you have factor P & I + Taxes + Home Insurance + PMI+ HOA + Utilities and also Maintenance costs. At least 6-8 months savings for payments bank lo unte better. both working.. 10 % down and can pull 15% but it will wash out our savings. Morgage payment estimate $5.5k vastunadi. what other maintenance costs should be considered ? 1 Quote Link to comment Share on other sites More sharing options...
Sonu_Patel Posted February 3, 2023 Author Report Share Posted February 3, 2023 2 minutes ago, Complex said: If you are comfortably paying rent now , Current rent ki mortgage payments ki too much diff unde la chusukoku bro , this will help to plan payments and home budget. Currently renting town home in Austin .. thinking to move Dallas and upgrade to single family home. Quote Link to comment Share on other sites More sharing options...
Popular Post k2s Posted February 3, 2023 Popular Post Report Share Posted February 3, 2023 38 minutes ago, Sonu_Patel said: Callling financial experts, Average ga oka 800K plus home ki mortgage payment average $5.5k per month ostundi.. our monthly take home net is $10k after all 401k, health insurance, other deductions .. blah blah What do you suggest ? For example if any one in family gets laid off, in that case net amount will be less. how are people able to make these financial decisions. chatgpt ila chepthuni bro - Based on the information you have provided, the monthly mortgage payment of $5.5k on an 800K plus home represents a significant financial commitment. If you and your family have a monthly take-home net income of $10k after all deductions, this could be a source of financial stress, especially if your financial situation changes due to a layoff or other circumstances. In general, it's recommended to consider your income, expenses, and overall financial situation before making a decision to take on a significant debt like a mortgage. Factors to consider include your monthly income, expenses, debt-to-income ratio, and your ability to meet your monthly mortgage payment in the event of a change in your financial situation. You may want to consider speaking with a financial advisor or a housing counselor to help you assess your situation and determine the best course of action. A financial advisor can help you understand your options and make informed decisions about your financial future. Additionally, a housing counselor can help you understand the terms of your mortgage, explore your options for making your monthly payments, and help you plan for financial stability in the future. 8 1 Quote Link to comment Share on other sites More sharing options...
Complex Posted February 3, 2023 Report Share Posted February 3, 2023 20 minutes ago, Sonu_Patel said: both working.. 10 % down and can pull 15% but it will wash out our savings. Morgage payment estimate $5.5k vastunadi. what other maintenance costs should be considered ? regular maintenance costs untay bro, builder will let you know for new homes I think you are doing more than 50% of take home money , do you have kids? general recommendation is keep it around 30-40% I mean, if you can make it work, its up to you. No one knows better than you about your financial confidence and overview of your family expenses. Quote Link to comment Share on other sites More sharing options...
Popular Post sarvayogi Posted February 3, 2023 Popular Post Report Share Posted February 3, 2023 general rule edo undi 40% of gross or net minchi payments undaddu ani check affordability calculator home konali ani pratokkadu oogipotadu but reality is this rent --> 1500-2000 anukunte you just pay that and forget...extra unte 2000 you can invest..worst case S and P which will eventually grow though less now house --> 5000 anukunte..hardly 500-800 is your principal..rest 4200-4500 phuket ke you are giving to bank and govt you can build equity loveda ani cheppaddu...eppudo aloo lakshana time ki you will get equity but aa time ki nee paisal anta naaki padesaru govt and bank after moving to SFH I understood...2 bed rental 1600-1800 range is best and invest the rest... 4 Quote Link to comment Share on other sites More sharing options...
Guest Posted February 3, 2023 Report Share Posted February 3, 2023 7 minutes ago, k2s said: chatgpt ila chepthuni bro - Based on the information you have provided, the monthly mortgage payment of $5.5k on an 800K plus home represents a significant financial commitment. If you and your family have a monthly take-home net income of $10k after all deductions, this could be a source of financial stress, especially if your financial situation changes due to a layoff or other circumstances. In general, it's recommended to consider your income, expenses, and overall financial situation before making a decision to take on a significant debt like a mortgage. Factors to consider include your monthly income, expenses, debt-to-income ratio, and your ability to meet your monthly mortgage payment in the event of a change in your financial situation. You may want to consider speaking with a financial advisor or a housing counselor to help you assess your situation and determine the best course of action. A financial advisor can help you understand your options and make informed decisions about your financial future. Additionally, a housing counselor can help you understand the terms of your mortgage, explore your options for making your monthly payments, and help you plan for financial stability in the future. Aa financial advisors db la masthu Mandi vunnaru..anduke ankul posted Quote Link to comment Share on other sites More sharing options...
k2s Posted February 3, 2023 Report Share Posted February 3, 2023 Just now, Guest said: Aa financial advisors db la masthu Mandi vunnaru..anduke ankul posted chatgpt kantey thopulu unnara ? 1 Quote Link to comment Share on other sites More sharing options...
Ravi860 Posted February 3, 2023 Report Share Posted February 3, 2023 55 minutes ago, Sonu_Patel said: Callling financial experts, Average ga oka 800K plus home ki mortgage payment average $5.5k per month ostundi.. our monthly take home net is $10k after all 401k, health insurance, other deductions .. blah blah What do you suggest ? For example if any one in family gets laid off, in that case net amount will be less. how are people able to make these financial decisions. I think they will look at gross income not after taxes. I believe lenders want to see if your combined monthly debt and mortgage should not exceed 43% of your gross monthly you are making. Not sure if they run these numbers before signing a home or at closing. Experts help!!! 1 Quote Link to comment Share on other sites More sharing options...
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