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Can I get a commercial loan without 25% down?
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Subject Expert
Basic modeling says 36%-42% of take home to PITA/PITS…
We did 4.4k on same salary with 2 kids. It was ok.
Seems reasonable. Is this multiple incomes?
Yes, 195k and 110k ish
I pay 8k a month for PITS and we make combined about 400k gross a year (incl bonus). It’s tough but surviving.
Subject Expert
What does your budget say?
Everyone has a different lifestyle. If you can stay comfortable with groceries and entertainment, then go for it.
What interest rate is that calculation at?
Subject Expert
Your housing percentage being higher of your after tax is less problematic for higher income folks because even saving 10% of your after tax covers so much more of your expenses. If you have a pretty solid emergency fund now and are still saving 5% to 10% of after tax with your budget, you’d should be fine.