What is the maximum monthly mortgage payment you would feel comfortable with on $250k HHI, combined $125k 401k, $150k liquid savings? We have paid off cars with low mileage but $1.6k / mo in student loans amd spend another $1.2k / mo on daycare. Both in early 30s.

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$2500

funnyhelpful

The general rule is to try and cap it at 28% of gross monthly income.

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- monthly gross of 21k = monthly take home around 12,500?
- don’t want recurring payments to be more than about 50% = 6250
- less loans and daycare, and utilities (400?) = 3050

I’d try to keep it under 3k

likehelpful

^this. I would spend ~100k in your liquid savings on down-payment

This bowl is so insanely conservative lol

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I love that about this bowl! I find myself trusting - more often - the financial advice on here where I would otherwise always be hyper skeptical.

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Maybe, house builders are still going strong. If they lock up that inventory we’ll have to build our way out. I happened to already own land so building still makes sense. A 1700 sqft home is costing about 250k to build. Why would I compete over a 600k house that needs a complete remodel? Another country where I buy real estate new builds are heavily favored. They create this incentive to build new through some grant that goes to like teachers, hospital workers, government. Contractors can’t build fast enough. Buyers usually pay cash, grant and 100% own their home.

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