SC make $140k and my wife a professor makes 115k. So total is 255k per year. We currently own a condo that is worth $245k and pay about $2300 ( will rent for around $2k) Just were approved for a townhome home in good neighborhood for $550k at 6.3% interest it is an FHA loan and we are planning to put 20k down ( we have 70k but want to save some money for a cushion and I have school to pay off by next spring). Monthly payment mortgage is $5k which is half our monthly after 401k. Thoughts?

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

Go for it. I am in the same salary range and just signed up for a condo at 650k in HCOL area due to school.
Got 6% 7/1 ARM non-FHA. FHA PMI will be very very high. I think you already know that.
Best wishes

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Ok so essentially it’s 50 percent of your take home

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