 Should I break my lease? |
| My landlord just raised our rent from 450.00/month too 515/month. my fiance and I cannot afford it right now and we are in the hole with some other things about 300.00, I do not see us making this ... |
|
 Is offering 200,000 on a 249,000 dollar home insulting? |
| i asked a similiar question once but didnt really get any answers on how much is insulting. I picked that amount because we can easily afford that but 215,000 is pretty much the most we can safely ... |
|
 Our Fridge in our Apartment brok and the food in the freezer and fridge is no good, Who is responsible??? |
| The fridge does not get cold and everything is defrosting, I called maintenance at 9:00 am they say they will be there by 4pm, everything is thawing, Is the apartment responsible to reimburse me for ... |
|
 Can a Landlord come in and out of your house without warning? |
| I live in Texas and I have a problem with my landlord coming in my property without any notification. It is usually during the day,but I feel as if it is an invasion of my privacy. He rings the ... |
|
 My home is on the market, it's been 4 months and it hasn't sold. A high producing Realtor said it doesnt pop |
| She said that it is the unfinished basement and the bleach accident, my daughter just had, on the steps. I will fix the carpet, it is only 5 to 6 hundred dollars to replace, but the finish the ... |
|
 A 100% mortgage means you get your entire cost of house covered by a mortgage. What about the Deposit? |
I was having this debate with friends... most mortgages are NOT 100%, in that they do not cover the entire cost of the house.
We were wondering about these rare mortgages that DO cover ... |
|
 Should my landlord be giving me reciepts for paying rent in cash? |
| i have an assured shorthold tenancy agreement and have been told that im not entitled to a rent book, because i pay monthly. But i would have thought that my landlord obligated to write out a receipt ... |
|
 Cheapest place in the UK to buy a house? |
Here in the South Wales Valleys we bought our 3 bedroom victorian terrace for £72,000.
Its very "dated" as the snobby property types like to say and does need quite a bit of ... |
|
 Buying land on ebay? |
| ive seen somebody selling a small plot of land on ebay for quite cheap, is there anything you should look out for when you see these cheap plots on ebay?... |
|
 What do estate agents do for their money? |
I have a property going for sale and received 3 valuations. Each Estate Agent quoted fees to market my house of around £1800 (house valued near £110k)
They take some pictures and post them on ... |
|
 Can four females rent an apartment together? |
| I thought it was fine but my sister's telling me now that there's a law in Texas that only two adults can share an apartment together. Any help? Three friends and myself (all in college) ... |
|
 If I have very little or no credit, how can I purchase a house? ? |
| If I can put 20 percent down, can I get financed with very little credit? I only have one credit card but I have only just recently gotten it, so I have almost nothing on my credit report. But I have ... |
|
 What can i do bout evicting people? |
| i have been renting my house the lease ended in oct but they have not moved out. I sent a cert letter telling them they had 30 days to leave but they arent now i have to get eviction notice. can i ... |
|
 Christians (and others too) please help me decrypt what my landlord is saying? |
| Ok, I need to break my lease because I bought a house, so I asked him if he would accept a half month's rent and keep the deposit in exchange for letting me out of the lease. I got this ... |
|
 How do we go about buying a house? |
| My husband and I are in our early twenties, i've been renting since the age of 16, and i think it's time to buy a house. We are going to be starting a family asap, and a one-bedroom ... |
|
 Would you allow a 20 year old to live with you and NOT pay any rent? |
| My step son is living with us "temporarily". We came up with terms before allowing him in. Such as it's temporary and as soon as he got a job, he had to pay $300 in rent. Well he has ... |
|
|  |
ilessthanthreeyou | If you made $143,000 a year, how much would you spend when buying a house? |
jw
Additional Details
what if later down the rode you made $183,500 a year? |
 |
 
Dan
 |
There is a lot of unknown information i.e. credit score, other monthly payments (car or credit cards) and what your comfortable while maintaining a decent cash flow for any unexpected repairs. In a perfect scenario (no other bills and 720+ credit score) you could use almost $6000 for your mortgage. The easiest way to figure out the max you can use towards your mortgage is calculate 50% of your monthly gross income minus and major bills. I would guess anywhere between $350k-450K is what you should qualify for. I strongly recommend that you contact a mortgage broker as they have hundreds of lenders and programs that will fit your needs. A mortgage broker can typically get you a lower interest rate than you can get by walking into your local bank as they have buying power. I hope this helps you and gives you an idea, however if you need any help or have any further questions please feel free to email me tadgeman@yahoo.com. |
|
♪ ♥ Sydney ♪ ♥
 |
You should be able to afford a house that's $1.5M... however, I would just buy a regular house that costs around $400K ...depending on where you're planning to buy. |
|
dkwr14
|
$286,000. You shouldn't EVER spend more than 2x the amount of one years salary. This is a recipe for hyper-consumption and can damage your savings in the long run. |
|
iiuva
 |
Like any jewish person will tell you .. YOur house should not be worth more than 10% of your revenue...
Figure out your monthly revenue.. and calculate 10%... that should be your mortgage payment,,,
That's what makes Jewish people so successful... they are smart in business and other areas..
Take care...
For an awesome business opportunity email
iiuva@sympatico.ca |
|
tngkp
 |
Take the money and buy a boat---forget the house. |
|
jodeeo1029
|
Two and 1/2 times your annual salary is what banks would generally lend you, $357,500. |
|
Eagleflyer
 |
You could manage $800,000 over 30 years with a decent interest rate, but you would need a 10% (or 20%?) downpayment. |
|
Andy G
|
It depends!
Yeah, that's not the answer you're looking for, I know, but you have to factor a lot of things in and even then it's completely subjective. Of that $143K (or $183K) how much are you currently saving? How much of that savings would you want to invest in your home? What is your tax bracket? (That helps you determine how much of a deduction you get from your mortgage payments.) How much debt are you comfortable carrying? What sort of interest rate can you get, how long do you plan on staying in the house, etc. etc. etc.
Talk to your realtor and a good mortgage broker in your local area. Or, better yet, a financial adviser! |
|
jmg559
|
Around 450000, hope fully u dont like to shop, go on vacation alot. But when i bought my house i only made 98000, and my house is the second biggest in the block, 5 bedrooms, 3 restrooms, 1 dinning room, 1 study room, 1 living room, a 4 car garage, and a big *** back yard. |
|
Guzzy
|
400,000 |
|
Jimmy1575
|
25% of your gross income should go into the calculation of your mortgage payment., from there you can figure out the rest. |
|
CorinneI
|
Hey, give me some of your money! I wish I made that much! I'm poor! |
|
kitiany
 |
You should spend about 20% of your income on rent/mortgage. So $143,000 per year is about $12,000 per month (not including taxes, etc). Assuming you are maxing out your 401K savings (which you should), that would be about $107,000 per year or $2100 per month. If you take into account your taxes on this amount, it is probably closer to $6900 per month (actuals may vary according to how many children or dependents you have). 20 percent of this is $1380 per month. So you can spend this amount on housing costs. If interest rates are at 6% for a 30 year mortgage (I haven't checked lately), that would come out to a $230,000 house. Some people are a bit more agressive and allocate 25% of their income to housing, so you can buy a $300,000 house (but don't forget real estate taxes and school taxes which would turn 20% into 25%).
So good luck and enjoy that home. I hope you don't live in California or New York, because those numbers can't buy much of a house. In any other place, you can buy a mansion for those numbers.
I do agree with iiuva (although not with the ethnic stereotype). It depends whether you view your home as an investment or as a place to live. If you view it as an investment and you can always find a similar paying job in the same area and the area you live in has had steady real estate value growth, then you can be more aggressive. If you view your home as a secure place you want to be able to live in until you die, you have to be more conservative.
Also, don't trust financial service folks. They always recommend that you buy more than you can afford. The more you buy, the more they earn. If you can't make payments, it is your problem since they can always take your home. |
|
paulofhouston
|
$300,000(but I'm cheap) |
|
007
|
6 million |
|
Searchlight Crusade
|
Enough of a house for my family to be happy in, enough for my needs, and no more.
The rest I would put into other property and other investments.
It's okay to buy the house with the extra bedroom for an office and a pool and a rumpus room. But there's a point at which the money is better put to making more money elsewhere.
True wealth is measured by how long you would be able to go without working, not all the stuff you've got. I love my profession, but if you don't have to keep working, nobody can make your life unpleasant. |
|
EDUARDO M
 |
it depends, becuase if u make 143,000 a year, u have pay the escrow and keep adding money so u can beat the other buyer, that is if only u like the house. Other than that the monthly payments, house tax payments, and money u give a month, part of it, sometimes most of it goes to the interest. |
|
♥cutemamma♥
|
at least $100,000..its hard to find a nice house under that price! |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
18 | 28 minutes(s) ago
| | | |
18 | 38 minutes(s) ago
| | | |
18 | 49 minutes(s) ago
| | | |
17 | 1 hour(s) ago
| | | |
17 | 6 hour(s) ago
| | | |
18 | 10 hour(s) ago
| | | |
18 | 2 day(s) ago
| | | |
18 | 3 day(s) ago
| | | |
18 | 6 day(s) ago
| | | |
17 | 1 week(s) ago
| |
|
Homepage 
Financial
Forum 
Renting & Real Estate 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
