I'll play.
$65,000/yr
$215,000
10% down, plus closing, etc...
I'll play.
$65,000/yr
$215,000
10% down, plus closing, etc...
1st house (1984) cost $60k, was making maybe $30-40k, not sure about down payment
2nd house (2009) cost $300k, was making low-to-mid $90k, 20% down
Good luck.
2009, paid $270k, wife and I W2'd at $115k.
2012. Making 63k. $197,000 with about 18% down.
437k in 2009, southern California. Paid 20% down. Combined income $85k.
$479,000.
10%.
552k for the house, 160k salary, 25% down.
2010
$145,000 For House
$53,000 Wages
10% Down
Bought first house 6 years ago: $65,500
Income at tome: $34,000
Sold House for $62,500 this year.
Bought House For: $155,000
Combined income with wife: $70,000
First (2000): $92k cost, put down 10%, salary around $55k.
Second (2013): $205k cost, put down 50%, salary $95k.
Howdy wrote:
437k in 2009, southern California. Paid 20% down. Combined income $85k.
Holy crap.
La La La wrote:
I'll play.
$65,000/yr
$215,000
10% down, plus closing, etc...
I haven't bought a house yet but I am aiming towards a similar plan.
Bought house for $134,000 (now my loan is against $125,000 because I refinanced once in there)
Made $41,000 at the time.
3% down
780K house (paid 500K off at purchase due to sale of previous home)
300K+/yr income
Wife and I were making about $80,000 at the time. House was $210,000 and they paid $5000 closing costs. 20% down.
And how much money did you make as a down payment?
I'm trying to figure out how much I can afford to buy a house for and how much money I will need for a down payment.
LetsRun.com addition: Please add in your local tax rate (or maybe monthly taxes if you don't know the rate) as it makes a huge difference.
Howdy wrote:
437k in 2009, southern California. Paid 20% down. Combined income $85k.
Really? Whate are the taxes out there?
So you have a 350k mortgage on 85k in income? The mortgage payment on that is $2k a month. Then you have taxes. In the two places I've most recently lived which have huge taxes (Ithaca and Baltimore), you'd be paying another 1k a month basically in property taxes (2-3%).
So you'd be paying a minimum of $36,000 a year just for the taxes/morgage.
Throw in a few repairs and we're at $40k.
The take home pay for someone making 85k a year is just 60k.
So that leaves you 25k for all of your other expenses for the year. So you are spending just 2k a month on expenses as a couple? Good for you. You are both only spending $30 a day. Very frugal.
I was 29 and bought earlier this year for $465k in Chicago, put down 20%. Income = $150k combined with my wife. Taxes are 6k.
1st house: bought in 1992 for $142000 10%dwn, my wife and I made $80000/yr
2nd house: bought in 2000 for $302000 10% dwn, made 150000/yr
Howdy wrote:
437k in 2009, southern California. Paid 20% down. Combined income $85k.
That sounds normal in California or in New York.
We're in NY.
House is 750K. Combined income is 250K. 10% down.
Emma Coburn to miss Olympic Trials after breaking ankle in Suzhou
Jakob on Oly 1500- “Walk in the park if I don’t get injured or sick”
VALBY has graduated (w/ honors) from Florida, will she go to grad school??
Congrats to Kyle Merber - Merber has left Citius for position w/ Michael Johnson's track league
2024 College Track & Field Open Coaching Positions Discussion