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Reload this Page What's the ratio between your take home pay and your mortgage amount? (taxes, income)
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Old 02-03-2012, 01:11 PM
 
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curious to see what everyone's ratio is.

so basically "total take home amount"/"total mortgage including everything"

Also, does this include all household income or just yours?
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Old 02-03-2012, 01:13 PM
 
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undefined. I paid off my home.
Last edited by NJBest; 02-03-2012 at 01:24 PM..
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Old 02-03-2012, 01:23 PM
 
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7.4 - based on our household W2 income.
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Old 02-03-2012, 01:47 PM
 
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Around 5 based on take home and mortgage including taxes and insurance. Around 7 based on take home and just mortgage (principal + interest). Around 8 with W2 income and mortgage.
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Old 02-03-2012, 01:49 PM
 
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Quote:
Originally Posted by hml1976 View Post
Around 5 based on take home and mortgage including taxes and insurance. Around 7 based on take home and just mortgage (principal + interest). Around 8 with W2 income and mortgage.
wait....really?
meaning that if your mortgage is 1000, your take home is 5000?
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Old 02-03-2012, 01:52 PM
 
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Originally Posted by Thinking-man View Post
wait....really?
meaning that if your mortgage is 1000, your take home is 5000?
Yes. Mortgage with taxes and insurance is 2385 take home home is around 12,000 if you average it out over the year.

I should add that we are wanting to be like NJBEST and put an extra $1500-$2000 on the mortgage every month.
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Old 02-03-2012, 01:54 PM
 
Location: southwestern PA
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Quote:
Originally Posted by NJBest View Post
undefined. I paid off my home.
Us too!
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Old 02-03-2012, 01:59 PM
 
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Quote:
Originally Posted by hml1976 View Post
Yes. Mortgage with taxes and insurance is 2385 take home home is around 12,000 if you average it out over the year.

I should add that we are wanting to be like NJBEST and put an extra $1500-$2000 on the mortgage every month.
oh ok. you're counting both salaries i guess.
that makes sense :-)

we're sort of in the same boat...but our ratio is less....about 3.7 to 1 because we have a slightly larger mortgage
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Old 02-03-2012, 02:01 PM
 
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Originally Posted by Thinking-man View Post
oh ok. you're counting both salaries i guess.
that makes sense :-)

we're sort of in the same boat...but our ratio is less....about 3.7 to 1 because we have a slightly larger mortgage
I'm actually a stay at home mom.
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Old 02-03-2012, 02:02 PM
 
Location: NJ
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take home is net of taxes? you are talking about monthly payments or total loan vs annual net income? by mortgage "including everything" what else is included in a mortgage except your payment of principle and interest? we are supposed to add property taxes and possibly insurance also?
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