This question may be a bit personal.....

natiepie1028 Posted: Nov 07, 2005 01:50 PM

This question may be a bit personal.....

I feel like its really gonna be really tough when we move in to our house, so I was just wondering what everyone's total income is.... and how much is the mortgage payment. You dont have to answer if its too personal. I just feel like we make less than most people. Our combined income is around 90,000

Hazeleyes33 Posted: Nov 07, 2005 07:45 PM

Re: This question may be a bit personal.....

Posted by natiepie1028

I feel like its really gonna be really tough when we move in to our house, so I was just wondering what everyone's total income is.... and how much is the mortgage payment. You dont have to answer if its too personal. I just feel like we make less than most people. Our combined income is around 90,000

Well we make less than you and when we bought our house (from my parents), our total income was only $35,000/yr!!

David'sbride Posted: Nov 07, 2005 07:46 PM

Re: This question may be a bit personal.....

Our mortgage payment is almost 1/3 of our combined take home pay but we bought a colonial and put down 1/2 of the price in cash as we had a house to sell. WE are paying extra each month towards the principle so we can pay it off in 15 vs. 30 years and save tens of thousands of dollars in interest. Money will still be tight once we have two little ones which will have to come one right after the other as like I said we are older.

Keep in mind we are a bit older and FH bought his first house in 1998.

We just sold our house to a younger couple fo $435K. They did not put 20% down so they also have to pay PMI. I can't believe they will be paying thousands of dollars more a month for the same place as DH bought in 1998 for 150K.

I don't blame couples who are younger than us for leaving LI.

Oh, and our combined income is bettter than average but housing is just so expensive.

meganNbobby Posted: Nov 07, 2005 07:58 PM

Re: This question may be a bit personal.....

we makeabout $95K together and our mortgage is $2291 abd our Home Equity is $400 onyl becuase since we had NO equity in the house our % is like 9% instead of the normal 4%-5%

but honestly I was very scacred at first becuase our rent was ony $1500, we are doing pretty well, we havent saved anything since we've moved in, with all of the repairs, furniture and stuff but it's totally fine, we dont go out to eat that much anymore or go out at with friends to the bars and stuff - i never did that anyway but we have our homeowner friends over and vice versa the other ones dont undestand why we can't spend $150 - $200 a weekend in a bar every weekend of the month

anyway.. dont worry it will be totally doable! plus we have all of the other monthly expenses too, utilities, car insurance car payments, cell phone, credit cards, life insurance, alarm and again extra $$ to do updates and such.

it all works out, it's pretty tough the first year i'm told. so we're not realy that suprised.

myasmom Posted: Nov 08, 2005 10:01 AM

Re: This question may be a bit personal.....

We get worried sometimes with the amount we pay on our home as well. Our mortgage is 2700.00 not including property tax. Together we make about $130k, we dont have car payments but we do have like 500.00 in CC bills. There is $$$ in the bank but not enough that I feel secure. I guess its true that if you make it through the 1st year it should all be ok.

wilandnet Posted: Nov 08, 2005 10:45 AM

Re: This question may be a bit personal.....

We are in a similar situation. We make about 95k combined, but FH makes close to 75% of that since I am in school. We want to buy now, before interest rates get to high, but Iare not sure if we should wait until I finish school and get a better job and boost our income. We expect my first job to be a minimum 10-15k more than what I currently make.

Now that I see some people in our income bracket, I feel more comfortable. I know it will be hard though!

violet Posted: Nov 08, 2005 10:59 AM

Re: This question may be a bit personal.....

I think our base income is around 90k BUT we both work a lot of overtime and get paid for it, so it's probably more like 110k or more. I've already made my base salary for the year, and my husband probably makes 20k more with all the overtime he works.

Our monthly payments will probably be around $2600 including property taxes, second mortgage (which is interest only because its a low amount but I will pay principal to it whenever I can), home insurance and flood insurance.

DjPiLL Posted: Nov 08, 2005 12:32 PM

Re: This question may be a bit personal.....

We are at about $125k combined. We just bought a Levitt that we are closing on next week.

Our monthly payment with re taxes will be about $2300.

We also have two brand new cars which we shell out a combined $1100 a month for.

We can make the payments now... and still have a little spending cash left off. But it will be better once we have these cars paid off.