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Old 08-07-2018, 12:27 PM
 
Location: NNJ
15,024 posts, read 9,990,677 times
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Assuming mortgage, insurance, and tax on a 15 year loan

20% net when wife is working
25% net when she is not.
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Old 08-07-2018, 12:40 PM
 
Location: Greensboro, NC
5,915 posts, read 6,403,308 times
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Quote:
Originally Posted by waviking24 View Post
Ours is 39.5% and we rent.

Want to see if that's high or low.
Around 25%, give or take a percentage.
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Old 08-08-2018, 12:37 PM
 
Location: Centennial, CO
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About 20% of total net pay (15% of gross).

We have a 30 year fixed VA loan and that's based on total payment including property tax & insurance.
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Old 08-08-2018, 01:38 PM
 
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Roughly 15% of gross for a SFH in metro Boston.

2-income household.
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Old 08-08-2018, 06:22 PM
 
Location: Mishawaka, Indiana
7,010 posts, read 11,902,945 times
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13% of gross income, mortgage. Indiana is cheap!
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Old 08-09-2018, 02:36 AM
 
Location: Chapel Hill, NC, formerly NoVA and Phila
9,763 posts, read 15,700,579 times
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Some pitfalls of comparing mortgage/rent to take-home pay are:

1. Take home for some people is after health insurance premiums have been paid, while for others it isn't. That can make a huge difference in comparison. (401k contributions, Flex plan also can have a big effect on net)

2. How many consider their tax refund/tax payment when doing the take-home pay calculation? If my take-home pay is $5000 per month but I get a $2400 tax refund each year, then my monthly take-home is really $5200. Or if I owe about $2400 per year, my take home is really $4800.

However, no comparison is perfect as not everyone has the same living expenses, so giving as much detail as possible makes it more meaningful.

Our mortgage (PITI) is ~36% of take-home pay. It is high partially because our health, vision, and dental premiums are already taken out, as is our Flex plan and $2K per month for our 401K contribution). Also, we have a 15-year mortgage, so while it is high now, it will be for a shorter amount of time than those with 30-year mortgages.

Our mortgage is about 22% of gross.
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Old 08-09-2018, 07:52 AM
 
41 posts, read 34,071 times
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My house is 24% of gross; 35% of take home.


This is for a single income household (stay at home wife + 3 kids). Like a previous poster, I don't think take home is a good indication as it doesn't include tax refund (we average $3000 a year and I already claim 9 exemptions), 10% goes into 401k, and all the other deductions (medical, dental, vision, life insurance, flex spending, etc.) that not everyone has/does.
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Old 08-11-2018, 03:02 PM
 
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12-15% of net. Because I work for myself, my income fluctuates.
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Old 08-11-2018, 06:18 PM
 
3,618 posts, read 3,032,964 times
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Quote:
Originally Posted by waviking24 View Post
Ours is 39.5% and we rent.

Want to see if that's high or low.
My wife and I are at about 32% (apparently)... 4 years into a 15-year loan. You have to factor in where you live, also. My friends on the coasts hold much higher debt-to-income ratios than me.. I am in the midwest.
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Old 08-11-2018, 07:05 PM
ptt
 
497 posts, read 632,317 times
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Our is 8% in Houston, TX.
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