1. Welcome! Please take a few seconds to create your free account to post threads, make some friends, remove a few ads while surfing and much more. ClutchFans has been bringing fans together to talk Houston Sports since 1996. Join us!

[Finance] House Payment

Discussion in 'BBS Hangout' started by Sajan, Feb 17, 2014.

  1. Sajan

    Sajan Member

    Joined:
    Apr 18, 2009
    Messages:
    8,301
    Likes Received:
    5,751
    What percentage of your net household income is your mortgage payment excluding tax/insurance etc?
     
  2. wizkid83

    wizkid83 Contributing Member

    Joined:
    May 20, 2002
    Messages:
    6,335
    Likes Received:
    847
    When you said net, you mean after tax, 401k and etc. right? About 8% for the mortgage and 6% for the escrow of taxes.
     
  3. DCkid

    DCkid Contributing Member

    Joined:
    Oct 15, 2001
    Messages:
    9,558
    Likes Received:
    2,510
    Don't have a mortgage, but does rent count?

    21% after maxed out 401(k) and everything else taken out.
     
  4. Sajan

    Sajan Member

    Joined:
    Apr 18, 2009
    Messages:
    8,301
    Likes Received:
    5,751
    Ya. Like what goes in your checking account..and how much of that is your mortgage.
     
  5. Svpernaut

    Svpernaut Contributing Member

    Joined:
    Jan 10, 2003
    Messages:
    8,446
    Likes Received:
    1,027
    My mortgage is about 7% of my income. I live in a condo that is dirt-cheap, but brand new on the inside. No complaints!
     
  6. HR Dept

    HR Dept Contributing Member

    Joined:
    May 31, 2012
    Messages:
    6,792
    Likes Received:
    1,223
    13% here, that's including both mine and my wife's take home.
     
  7. DFWRocket

    DFWRocket Member

    Joined:
    Mar 21, 2000
    Messages:
    4,485
    Likes Received:
    2,017
    Our mortgage is about 19% (with insurance and escrow)- but we have a 15yr mortgage, not a 30yr. Your mortgage (with insurance and escrow) should NEVER be more than 25% of your take-home pay. I'd have to look at the next statement to figure it without escrow & insurance.
     
  8. Rockets Red Glare

    Rockets Red Glare Contributing Member

    Joined:
    Jul 20, 2001
    Messages:
    1,393
    Likes Received:
    50
    Mine is close to 18% all in.
     
  9. Sajan

    Sajan Member

    Joined:
    Apr 18, 2009
    Messages:
    8,301
    Likes Received:
    5,751
    Dave Ramsey recommends 25% including insurance/taxes out of net income.

    Very conservative I would think in the houston housing market..
     
  10. EssTooKayTD

    EssTooKayTD Contributing Member

    Joined:
    Dec 15, 2005
    Messages:
    3,341
    Likes Received:
    73
    20% give or take some.
     
  11. justtxyank

    justtxyank Contributing Member

    Joined:
    Jul 7, 2005
    Messages:
    42,675
    Likes Received:
    39,258
    With taxes and insurance all included it's about 17%.
     
  12. Sajan

    Sajan Member

    Joined:
    Apr 18, 2009
    Messages:
    8,301
    Likes Received:
    5,751
    Geez..what do yall make? lol.

    Or does everyone live in very affordable houses?
     
  13. MosKeemYao

    MosKeemYao Member

    Joined:
    Jun 29, 2009
    Messages:
    610
    Likes Received:
    41
    both spouses take home pay is lets say 4,000 (conservative) thats 8,000. Average 30-yr suburb 1 story house 1,500 equates to 18.75%.
     
  14. DCkid

    DCkid Contributing Member

    Joined:
    Oct 15, 2001
    Messages:
    9,558
    Likes Received:
    2,510
    Assuming most live in Texas...so probably very affordable houses. There is no way some of the numbers posted here are anywhere close to the norm.
     
  15. Sajan

    Sajan Member

    Joined:
    Apr 18, 2009
    Messages:
    8,301
    Likes Received:
    5,751
    Ah..30 year loans. I was looking at 15 years.

    15 year mortgage before taxes/insurance = 25% for me. I haven't bought it yet. Doing the math.
     
  16. justtxyank

    justtxyank Contributing Member

    Joined:
    Jul 7, 2005
    Messages:
    42,675
    Likes Received:
    39,258
    Bought a house below my means that's how mine is at that number.

    Actual payment is even less than that, but I pay it at a rate to pay off on a 15 year table instead of 30.
     
  17. Toast

    Toast Member

    Joined:
    Feb 21, 2001
    Messages:
    3,755
    Likes Received:
    10
    Obviously, people who are proud of their answer are more likely to respond.

    Which is why you don't see very many 115% posts.
     

Share This Page

  • About ClutchFans

    Since 1996, ClutchFans has been loud and proud covering the Houston Rockets, helping set an industry standard for team fan sites. The forums have been a home for Houston sports fans as well as basketball fanatics around the globe.

  • Support ClutchFans!

    If you find that ClutchFans is a valuable resource for you, please consider becoming a Supporting Member. Supporting Members can upload photos and attachments directly to their posts, customize their user title and more. Gold Supporters see zero ads!


    Upgrade Now