Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Yeah, I was going to say that. Not to be a jerk or anything but how much is the OP making? I bought a $350k house on a $100k salary and we are getting by. Is the OP making less than $50k?
With interest rates as low as they are, a $150k house should be really affordable. Assuming a $15k down payment, your monthly payment, before PMI and taxes and insurance, would be $644/month.
After seven years of teaching and a master's degree I make 53k in the public schools and after all the deductions of taxes, mandatory union fees, health deductions, pensions, savings, etc. I'm left with a take home pay of $3500 a month. I think I will also change my exemption to 2 to have more each pay period.
I did get a prequalification from Wells Fargo and they said it was upto 200k. When I read the paper it said that I have to have a net income of $4400 monthly but it was based on gross income and not all the deductions I have to have taken out by public school. We do have 20k saved, but I don't want to give it all as a down payment because we need an emergency fund.
So we figured out that many houses after you add the mortgage, property taxes, PMI, and homeowner's insurance it adds up to about $1600 a month and that doesn't include utilities (which I"m trying to figure out how much that would add up to a month), one car payment at $380, car insurance at 130, school loan 150 , food, gas $200 , etc. It all adds up to just a bit over the monthly income and It would be nice to have a bit of extra at the end of the month for emergencies.
We're working hard now sending resumes everywhere so my husband can find a job. If anyone knows any work at high maximum security hospitals or facilities or knows about the cremation field (yes he has a certification to cremate people, but no one is hiring) I would greatly appreciate it. Those are his two specialties
Both of us came from very poor upbringings so buying a house for us is a very confusing process.
You don't have to come from poor upbringings for the home-buying process to be confusing. That process is confusing to most of us. Here are a couple of links that may help you and show you how you were prequalified:
After seven years of teaching and a master's degree I make 53k in the public schools and after all the deductions of taxes, mandatory union fees, health deductions, pensions, savings, etc. I'm left with a take home pay of $3500 a month. I think I will also change my exemption to 2 to have more each pay period.
I did get a prequalification from Wells Fargo and they said it was upto 200k. When I read the paper it said that I have to have a net income of $4400 monthly but it was based on gross income and not all the deductions I have to have taken out by public school. We do have 20k saved, but I don't want to give it all as a down payment because we need an emergency fund.
So we figured out that many houses after you add the mortgage, property taxes, PMI, and homeowner's insurance it adds up to about $1600 a month and that doesn't include utilities (which I"m trying to figure out how much that would add up to a month), one car payment at $380, car insurance at 130, school loan 150 , food, gas $200 , etc. It all adds up to just a bit over the monthly income and It would be nice to have a bit of extra at the end of the month for emergencies.
We're working hard now sending resumes everywhere so my husband can find a job. If anyone knows any work at high maximum security hospitals or facilities or knows about the cremation field (yes he has a certification to cremate people, but no one is hiring) I would greatly appreciate it. Those are his two specialties
Both of us came from very poor upbringings so buying a house for us is a very confusing process.
if it is sad and disheartening that a teacher cant afford a 150k house, which professions would it be happy and heartening for the practioners to not be able to afford a 150k home?
After seven years of teaching and a master's degree I make 53k in the public schools and after all the deductions of taxes, mandatory union fees, health deductions, pensions, savings, etc. I'm left with a take home pay of $3500 a month. I think I will also change my exemption to 2 to have more each pay period.
I did get a prequalification from Wells Fargo and they said it was upto 200k. When I read the paper it said that I have to have a net income of $4400 monthly but it was based on gross income and not all the deductions I have to have taken out by public school. We do have 20k saved, but I don't want to give it all as a down payment because we need an emergency fund.
So we figured out that many houses after you add the mortgage, property taxes, PMI, and homeowner's insurance it adds up to about $1600 a month and that doesn't include utilities (which I"m trying to figure out how much that would add up to a month), one car payment at $380, car insurance at 130, school loan 150 , food, gas $200 , etc. It all adds up to just a bit over the monthly income and It would be nice to have a bit of extra at the end of the month for emergencies.
We're working hard now sending resumes everywhere so my husband can find a job. If anyone knows any work at high maximum security hospitals or facilities or knows about the cremation field (yes he has a certification to cremate people, but no one is hiring) I would greatly appreciate it. Those are his two specialties
Both of us came from very poor upbringings so buying a house for us is a very confusing process.
if it is sad and disheartening that a teacher cant afford a 150k house, which professions would it be happy and heartening for the practioners to not be able to afford a 150k home?
It's sad that anyone that works hard and is middle class can't buy something so essential as a house. It doesn't have to be fancy.
It's such a coincidence that I was browsing through yahoo and saw this article....so I'm not the only one feeling like this. Only difference is this person was spending on a lot of unnecessary things
After seven years of teaching and a master's degree I make 53k in the public schools and after all the deductions of taxes, mandatory union fees, health deductions, pensions, savings, etc. I'm left with a take home pay of $3500 a month. I think I will also change my exemption to 2 to have more each pay period.
I did get a prequalification from Wells Fargo and they said it was upto 200k. When I read the paper it said that I have to have a net income of $4400 monthly but it was based on gross income and not all the deductions I have to have taken out by public school. We do have 20k saved, but I don't want to give it all as a down payment because we need an emergency fund.
So we figured out that many houses after you add the mortgage, property taxes, PMI, and homeowner's insurance it adds up to about $1600 a month and that doesn't include utilities (which I"m trying to figure out how much that would add up to a month), one car payment at $380, car insurance at 130, school loan 150 , food, gas $200 , etc. It all adds up to just a bit over the monthly income and It would be nice to have a bit of extra at the end of the month for emergencies.
We're working hard now sending resumes everywhere so my husband can find a job. If anyone knows any work at high maximum security hospitals or facilities or knows about the cremation field (yes he has a certification to cremate people, but no one is hiring) I would greatly appreciate it. Those are his two specialties
Both of us came from very poor upbringings so buying a house for us is a very confusing process.
with 20k in savings, if i were you, i would not be looking to buy a house for a couple more years.
a house is a nice to have asset provided one can afford it. there is absolutely no reason one should own a house to be happy or have a normal life. what is important is having enough savings for emergency and a healthy cushion every month; maxing out your 401k/IRA. what is important is having a peaceful and stressfree life. if buying a house has a potential to make your life worse, why do it?
After 11 years as a corporate research scientist, I made only a few thousand more than that. All I could afford was a condo for well under $100,000. It sucks but I'm not sure what Christie has to do with it. I moved up here during the Christie Todd years.
Do you need to stay in NJ? Back in 1995, my kindergarten teacher (I wasn't in kindergarten then obviously) was making $95,000 just across the Delaware.
Dissolution of tenor? How about sopranos and contraltos? (Sorry, couldn't resist, I know that you mean tenure)
Thanks for catching it. I make ton of spelling and grammar mistakes, although I think I'm not too bad for someone who immigrated at age of 13
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.