Does a 4K House payment seem doable on salary of 150K? 4K Is including note, property taxes, PMI, and house insurance.

like
Posting as :
works at
You are currently posting as works at

NO WAY 🚫🙀

We make $126k and our housing payment of $2,200 is just okay. We max out all retirement accounts and are fairly comfortable.

$4,000 a month will leave you house poor at $150k salary.

like

$4k is a stretch, but might be doable if you can rent out a room for the first year or two.

How much are you putting down? You mentioned PMI, so I’m assuming 10%. If you expect growth in your wages, refinancing in 1 to 3 years once you’ve gotten over 20% equity could be a huge improvement both in payment size as well as interest rate.

like

No debt and single. So just supporting 1 person

Gotta think through all your expenses and risks. If you lose your job, are you able to keep up payments until you get a new one? Do you have budget for u expected expenses? When you go through inspections, be serious about considering upcoming and potential repairs/maintenance.

If it makes you feel any better, I'm currently considering 5600/mo on a 160 salary, but it's a duplex with rental income, I don't have a PMI due to VA loan, all major repairs and updates (roof, electrical, plumbing, foundation) were conducted in the last 2 years, and I'm likely to pay down ~100k to principal in 3 months when some CDs mature and I get my bonus. My dad thinks it's bonkers, but anything cheaper won't hold its investment value due to neighborhood, lot sizes of <2000sqft, 2bd or less, or a host of other factors in my HCOL area.

like

Some say if you take your monthly gross income and multiple by 30% (.28), keep your monthly mortgage payment under that number. Sounds like yours is right under that advice. It's what I've done with my homes in the past. You're numbers are on the higher side of where you'd want wiggle room with your mortgage payment, but: expect increase in income regularly? Then I'd go for it if you love the house.

like

Seems high but not for the times, I guess.

No. Try 1-2k

No. I got lucky during 2020/21stock market. I put ~all my short term investment balance down. North TX new build 4b2b

How much savings do you have?

60K right now. Would be closer to 110K at time of buying

PMI? That means you can’t afford a 20% down payment. Save up first. You’ll find that payment will come way down; the interest rate will be lower with more down, and no PMI payment.

Related Posts

I work in healthcare administration but was a medic for years. You learn so much about innovation but seems like most health systems just want people to fall in line and just do what's always been done. I would take a pay cut to work for a system that's actually trying to do something disruptive in the Industry as opposed to just using buzz words in ppt.

like

Hi Team,

What will be the inhand monthly salary for below.
Please revert.

Post Photo

Chances at CBS with 4 YOE in analytics consulting + impact investing, 3.6 from econ/stats at top 20 UG, solid LOR and ECs, but 160Q/162V? Indian female.

like

Does anyone have any good mortgage broker recommendations that will help find a way to not pay PMI?

like

If I am having 15.30 Lpa offer@LTI, how much I will get in hand salary.

like

Thoughts on CVS Health?

like

Angel investors : What returns do you expect when investing? Also what’s your range of investment?

like

Has anyone dealt with Peachtree Residential before? They build homes primarily in Atlanta and Charlotte.

like

hi,
i got a offer letter from hsbc before baground verification but i taken education loan for my MBA this year 2022 but my tenure to pay is not occurred. i had credit score of 728 . is there any chance of getting revoke of offer letter

like

Which agencies have good strategic media relations departments? I want to move to an agency where PR is seen as strategic consultants not yes men. And I've been doing biotech media relations for almost 3 years and want to continue doing it since I have a science and engineering degree. But I'm open to tech, healthcare and sustainability PR too. Any suggestions on where to look next?

like
likefunny

What is your opinion of expected base salary for a Director of Global Operations Risk Management who has managers who are leads for each region (US, Latin America, Europe and Asia)?

Ps this is for a major global insurance company!

like

What are the pros and cons of working for Progressive Insurance as a PIP examiner?

like

Anyone know the salary range at Regeneron for Director, Development Program Management?

like

What you prefer to tell when people ask your income?

I usually prefer in hand salary 😇
As CTC and in hand after tax deduction is too much different.😑

If i say i am earning 45 lakh people are like wow man so nice earning...

If i say i am earning 1.5 lakh per month
People are like baju wala builder bhi itna hi kma leta 😂

Par kaise btayein ise ki baju wala builder 12 lakh tax nhi bhrta par ham bhhrte hain 😥

#Tax payers ki khani unhi ke jubani

like

Hello all,I want some advise. Please guide me. I am having an offer of 8 lpa ( YOE-1.10) from an MNC
And serving notice period and I am worried whether it was a right decision to put paper as Recession is likely to hit the market. Will I have any impact of it? I mean is there any chance of my offer getting revoked?
Actually the salary slab in TCS is so low it was getting very difficult to survive. Need your thoughts. Please guide.

like

Any insight into working for Saiber? Salary for 6 YOE?

like

Folks, one doubt..... I was hired as a senior consultant in dec 2021. I did not nominated for grade change till now. Will they automatically consider me for grade change or do I have to expicitely talk about it with PC ? Also if grade is changed, how is the impact on salary considering the parity check ? Right now I am at 25 lakhs with 8.3 years of experience.

like

Please suggest in terms of learning, job security and work life balance which organisation to go for in the current time from the below offers...
Thanks in advance for your valuable suggestions.

TabSquare (22 fixed+ 1.5 variable)
Zensar (20 fixed+ 1 joining bonus)
Rightpoint (22 fixed+ 1 joining bonus)
Accolite digital (PKG not confirmed, estimated 24 fix + 1 joining bonus)

Tech stack Frontend Developer (react js, JavaScript, HTML5 and CSS3)

like

More Posts

So if I were to rent a car from Trips, can my wife (not in Deloitte) drive that car as well? Is she also covered in the insurance? Does anyone know?

I am working as a technology consultant specialist in PwC ac. As of now I'm working on an internal project of the company but i have received mail from a senior that if someone wants to volunteer for this project "financial service capital market- COI" should i opt or not? Will it be useful?

Okay finance gurus, I have an idea and interested in your thoughts. Might be a bad one so be gentle 🙂. I have a 2 yr old and another on the way. Need to start planning for college. I was thinking of buying a condo or 2 in lieu of saving and selling them down the line for tuition. Condos downtown are pretty inexpensive (T3) so it’s financially feasible. But is this a good idea or too risky?

like

Hey y’all! What state are you from?

Does anyone know the average salary for a senior consultant in finance with 5 years work experience in the LA area?

Any leads for single occupancy room available
Location: Gurgaon
Budget under 15k

I am concerned with fulfilling billable hours requirement. I’m required to hit 2100 hours yearly and I’m at ~1,500 hours and I think I’ll hit 150-180hours this month. What will happen if I don’t hit my targeted amount by the end of my year.

likehelpful

Does anyone’s dog look at them with puppy eyes when you leave for work so you tell them you have to go make money to afford their lifestyle? 🤣

likefunny

BigLaw M&A: what do you consider to be “big deal” vs a small and medium deal? For example, what do you consider a $150M deal?

like

How to switch practice areas? I’ve been in immigration for 3 years now and need a change. How do you convince employers you’re a good fit for a role you don’t have any experience with?

like

Deloitte launches climate change learning for all staff. Thoughts?

What does a PIP consist of? My manager isnt being clear and has been lying to me for the past few months so I'm just trying to add the pieces and see what my future might consist of.

like

Okay, so I have pretty bad cystic acne, clogged pores and enlarged pores. I’ve been using curology and a mild dermatologist recommended soap. I have seen some improvement, however I was curious if anyone was struggling with it and has tried the “Flo Vitamin gummy’s “ on top of my fertility struggle this really has kinda killed my confidence. I know it’s not specifically fertility related but Was hoping to get some feedback on similar situations

like

1st year manager salaries? What can I expect? Name your location too.

like

What’s Deloitte’s Chicago Tax practice like?

like

Went from a big firm to work for a smaller firm. The people in the smaller firm are protective of their work and are good by their work too. I no longer feel chaos or stress. I am treated with respect and my schedule is more normal. I am even working more billable hours than before, but it feels like a seamless experience. I don’t work then past 5pm or anything out of the ordinary for this time of the year. I am so grateful!

likeuplifting

Looking for job change. I am having 9.5 years of experience in automation testing with different testing tools, frameworks. Notice period 2 months.

If any referral, please let me know.

like

Hi Fishes, Anyone up for virtual summer time meal today (Monday)? Pls DM Deloitte

like

I started interviewing early Oct with a company that reached out via recruiter. The hiring manager was very straight forward with me that I was his top candidate and I was told all other interviews were very positive incl CMO. The recruiter said they'd be making an offer but it's now been three weeks. Anyone else had the process drag on like this? Meanwhile I'm taking other interviews and was offered a promotion at current company, but was very interested in this one. What would you do?

like

I have joined cts US in 2015. Moved to cts India in 2018. What is the notice period if I resign now in cts ?

like

Additional Posts in The Real Estate Bowl

28 year old with ~125k in cash/brokerage. Have been wanting to begin purchasing rentals but anxious to use a good bit of my liquid savings. Thoughts on biting the bullet vs. investing in stocks. In Houston if that is a factor

like

I am considering putting down an offer for a TH in a community that has Mello Roos. It gets added to the property tax. I am looking at paying an additional 5-6k for that.

Online videos say it’s all good because the money gets invested in building the community .

any potential downsides? In terms of future sales and demand ? What am I missing?

like

Any thoughts on this book?

Post Photo
likefunny

Hi guys! Looking to learn about real estate investing! I am a senior in college graduating with a degree in finance so I understand certain aspects, but am looking to learn more on my own about real estate specifically!

What books would you recommend I read?

like

If u have a house under my name if i move it to an llc what happens? Do i refinance to prevent a due on sale clause?

like

Current Tenant Rent: $1075, Monthly Payment: $400 (with property management), Initial Repairs: $2-5K, Down Payment: $12K

At surface level, do these numbers check out?

like

Just bought a new primary residence that needs work. Current home has ~$100k equity after buying in 2019 with <$20k down (appreciated around 20% in the last 3 years, in a major metro area). Would you:

1) Lock in the appreciation & sell now. Use some for renovations/other investments.

2) Keep for another 2-3 years & rent out for a small cash flow (<100/month if self-managing), get a HELOC if needed. Note it would not pass my investment criteria if buying today.

3) other approach?

like

Is it okay to buy a home worth 660K for a couple earning 325K TC together? The HOA and taxes for this home bring the monthly payment up to ~4.8K which is ~32% of our monthly take home after tax…we’re first time home buyers, any advise is appreciated!

like

Question for folks with second homes: Considering buying a vacation home but would be primarily for family use. We currently have a primary residence with a mortgage balance of ~640K, so my understanding is I could only deduct the mortgage interest on 110K of the second mortgage to stay under the 750K cap. If I were to buy the second home through an LLC, would that allow me to exceed that 750K since the expenses of the second home would be pass through expenses/income?

like

Our appraisal came through exactly as the offer price we put. Apparently by lenders 3rd party. Isnt that a bit fishy? If it came in lower our contract has the option to negotiate a bit with seller. Is lender just trying to push this along faster? I'm pretty sure in this crazy market the home is not valued at what we offered. Why would seller put a much lower asking price then? Make no sense. Please advise!

likehelpful

What's the best city in UK to buy a buy to let property, with best returns?

like

Under contract to buy my first home - house hacking a triplex. Property has been leased by the same three tenants for the last 5+ yrs, rents haven’t been raised since they moved in. Market rents have risen 70-100% in the same timeframe. All seem like ideal tenants (retired and take great care of the units) but I’d like advice on how to approach the rent increase conversation. Rents don’t make/break my mortgage payment but I’m leaving a lot on the table if I don’t increase significantly.

like

For anyone that has bought a townhome from Lennar, are the walls fairly well insulated for sound?

What, if any, were your main complaints?

like

Any one knows what’s the easiest way to order a radon test for new construction?

like

How can I invest in real estate ? Looking for an additional passive income source

like

Looking for an NJ store selling hardwood flooring that has a decent selection and not too lengthy delivery times.
Everyone seems to have a 4 week wait for hardwood. Any help is appreciated.

like

For people who recently refinanced, bought or is in the process of buying a new home, what APR did you get?

like

Is a sloped floor of 1/2” over 10’ noticeable? I have to make room for conduit and cannot trench in my current place

likesmart

Would you pay an extra ~$100/month on top of existing monthly PITI for access to $65k in equity from your home? Want to use it for either A) down payment on new primary or B) net new investment property and see if that can fund the next primary

like

Someone asked me if it’s a good time to sell vs buy. So I explained that we’re in a seller’s market, then realized i lost a potential buyer. To what extent should I be transparent in this market?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal