Percentage of pay on home
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33% :omg: :(( But that's LA for you... stuff's expensive --Mike-- Personal stuff:: Ericahist | Homepage Shareware stuff:: 1ClickPicGrabber | RightClick-Encrypt CP stuff:: CP SearchBar v2.0.2 | C++ Forum FAQ ----
Michael Dunn wrote: But that's LA for you... stuff's expensive I don't think that's too bad. When my discount period for my mortgage is up (it is fixed at 3.59% for the first two years, then in reverts to tracking the Bank of England base rate +1% [The BoE has just raised rates to 4.5% about a week ago] so I'm in for a big jump in Oct 2005).... As I was saying, when my discount period is up the percentage of net pay will jump to at least 36%. At that point I'll be shopping for a new mortgage.
"You can have everything in life you want if you will just help enough other people get what they want." --Zig Ziglar The Second EuroCPian Event will be in Brussels on the 4th of September Can't manage to P/Invoke that Win32 API in .NET? Why not do interop the wiki way! My Blog
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I'm just curious how much everyone is paying for their mortgage or rent as a percentage of their take-home (net) income. I'm paying 28% of my net pay on my mortgage. How does that stack up against you?
"You can have everything in life you want if you will just help enough other people get what they want." --Zig Ziglar The Second EuroCPian Event will be in Brussels on the 4th of September Can't manage to P/Invoke that Win32 API in .NET? Why not do interop the wiki way! My Blog
I'm paying approx 22% in rent. Its about time I got on the 1st rung of the property ladder. Ant. I'm hard, yet soft.
I'm coloured, yet clear.
I'm fuity and sweet.
I'm jelly, what am I? Muse on it further, I shall return! - David Williams (Little Britain) -
I'm paying approx 22% in rent. Its about time I got on the 1st rung of the property ladder. Ant. I'm hard, yet soft.
I'm coloured, yet clear.
I'm fuity and sweet.
I'm jelly, what am I? Muse on it further, I shall return! - David Williams (Little Britain)I was paying about the same in rent as I am in mortgage and would advise people to buy not rent whenever possible. Elaine :rose: The tigress is here :-D
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I'm just curious how much everyone is paying for their mortgage or rent as a percentage of their take-home (net) income. I'm paying 28% of my net pay on my mortgage. How does that stack up against you?
"You can have everything in life you want if you will just help enough other people get what they want." --Zig Ziglar The Second EuroCPian Event will be in Brussels on the 4th of September Can't manage to P/Invoke that Win32 API in .NET? Why not do interop the wiki way! My Blog
0% Never had a mortgage as I've always paid cash. - But, I'm actually studying this at the moment as I'm writing some software for lowering residential mortgage rates. - What's really interesting is that a 1% increase in interest rates can change a 28% figure like yours into a 35% figure. (many assumptions). - I suggest instead that you look at the ratio of Interest paid to net Income. As paying the capital part of a mortgage is just asset swapping for home equity. - Its typical nowdays in NZ for Interest to be about 50% of a couples NET-PAY on there first home. This is bad IMHO. Regardz Colin J Davies
*** WARNING *
This could be addictive
**The minion's version of "Catch :bob: "It's a real shame that people as stupid as you can work out how to use a computer. said by Christian Graus in the Soapbox
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0% Never had a mortgage as I've always paid cash. - But, I'm actually studying this at the moment as I'm writing some software for lowering residential mortgage rates. - What's really interesting is that a 1% increase in interest rates can change a 28% figure like yours into a 35% figure. (many assumptions). - I suggest instead that you look at the ratio of Interest paid to net Income. As paying the capital part of a mortgage is just asset swapping for home equity. - Its typical nowdays in NZ for Interest to be about 50% of a couples NET-PAY on there first home. This is bad IMHO. Regardz Colin J Davies
*** WARNING *
This could be addictive
**The minion's version of "Catch :bob: "It's a real shame that people as stupid as you can work out how to use a computer. said by Christian Graus in the Soapbox
ColinDavies wrote: What's really interesting is that a 1% increase in interest rates can change a 28% figure like yours into a 35% figure. (many assumptions). It isn't a 1% increase. The interest on my mortgage now is 3.59% The BoE base rate is now 4.5% When the discount period on my mortgage ends, assuming the BoE rate stays the same [which it won't as it is expected to rise more], I will be paying 5.5%, which is nearer a 2% jump in interest (or £1600 [$2800US] per year) One of the really crappy things about my mortgage is that the interest for each calendar year is calculated up front, in January. So if I pay off a lump in February it makes no difference until Dec 31 when they recalculate the interest, so I might as well keep that money in a savings account until late December.
"You can have everything in life you want if you will just help enough other people get what they want." --Zig Ziglar The Second EuroCPian Event will be in Brussels on the 4th of September Can't manage to P/Invoke that Win32 API in .NET? Why not do interop the wiki way! My Blog
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I'm just curious how much everyone is paying for their mortgage or rent as a percentage of their take-home (net) income. I'm paying 28% of my net pay on my mortgage. How does that stack up against you?
"You can have everything in life you want if you will just help enough other people get what they want." --Zig Ziglar The Second EuroCPian Event will be in Brussels on the 4th of September Can't manage to P/Invoke that Win32 API in .NET? Why not do interop the wiki way! My Blog
I am at 10%, however this is a straight loan. I.E. I pay the taxes and insurance directly. I also have the college bills as Marc states. I do not mind getting old. It beats all the other options that can think of.
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I'm just curious how much everyone is paying for their mortgage or rent as a percentage of their take-home (net) income. I'm paying 28% of my net pay on my mortgage. How does that stack up against you?
"You can have everything in life you want if you will just help enough other people get what they want." --Zig Ziglar The Second EuroCPian Event will be in Brussels on the 4th of September Can't manage to P/Invoke that Win32 API in .NET? Why not do interop the wiki way! My Blog
Just barely under 20%, 19 years left on the mortgage but we'll probably pay it off in 12-15. "President Bush has promised he's going to establish elections in Iraq, he's going to rebuild the infrastructure and he's going to create jobs. And he said if it works there, he'll try it here." David Letterman
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ColinDavies wrote: What's really interesting is that a 1% increase in interest rates can change a 28% figure like yours into a 35% figure. (many assumptions). It isn't a 1% increase. The interest on my mortgage now is 3.59% The BoE base rate is now 4.5% When the discount period on my mortgage ends, assuming the BoE rate stays the same [which it won't as it is expected to rise more], I will be paying 5.5%, which is nearer a 2% jump in interest (or £1600 [$2800US] per year) One of the really crappy things about my mortgage is that the interest for each calendar year is calculated up front, in January. So if I pay off a lump in February it makes no difference until Dec 31 when they recalculate the interest, so I might as well keep that money in a savings account until late December.
"You can have everything in life you want if you will just help enough other people get what they want." --Zig Ziglar The Second EuroCPian Event will be in Brussels on the 4th of September Can't manage to P/Invoke that Win32 API in .NET? Why not do interop the wiki way! My Blog
Colin Angus Mackay wrote: One of the really crappy things about my mortgage is that the interest for each calendar year is calculated up front, in January. That is flamin' daft. They must be using a real legacy system to have that happening these days. Regardz Colin J Davies
*** WARNING *
This could be addictive
**The minion's version of "Catch :bob: "It's a real shame that people as stupid as you can work out how to use a computer. said by Christian Graus in the Soapbox
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I'm just curious how much everyone is paying for their mortgage or rent as a percentage of their take-home (net) income. I'm paying 28% of my net pay on my mortgage. How does that stack up against you?
"You can have everything in life you want if you will just help enough other people get what they want." --Zig Ziglar The Second EuroCPian Event will be in Brussels on the 4th of September Can't manage to P/Invoke that Win32 API in .NET? Why not do interop the wiki way! My Blog
23% Here! Yes, I program in VB, but only to feed my addiction to a warm place to sleep and food to eat!
Visit my Code Project blog (Mobile Audio project)[^]
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0% Never had a mortgage as I've always paid cash. - But, I'm actually studying this at the moment as I'm writing some software for lowering residential mortgage rates. - What's really interesting is that a 1% increase in interest rates can change a 28% figure like yours into a 35% figure. (many assumptions). - I suggest instead that you look at the ratio of Interest paid to net Income. As paying the capital part of a mortgage is just asset swapping for home equity. - Its typical nowdays in NZ for Interest to be about 50% of a couples NET-PAY on there first home. This is bad IMHO. Regardz Colin J Davies
*** WARNING *
This could be addictive
**The minion's version of "Catch :bob: "It's a real shame that people as stupid as you can work out how to use a computer. said by Christian Graus in the Soapbox
ColinDavies wrote: 0% Never had a mortgage as I've always paid cash. So you paid cash outright for a home or apartment? Yes, I program in VB, but only to feed my addiction to a warm place to sleep and food to eat!
Visit my Code Project blog (Mobile Audio project)[^]
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ColinDavies wrote: 0% Never had a mortgage as I've always paid cash. So you paid cash outright for a home or apartment? Yes, I program in VB, but only to feed my addiction to a warm place to sleep and food to eat!
Visit my Code Project blog (Mobile Audio project)[^]
Wackatronic wrote: So you paid cash outright for a home or apartment? Correct, I have had several and have always paid for them without a mortgage. (remember programmers use to make big money once) :-) Regardz Colin J Davies
*** WARNING *
This could be addictive
**The minion's version of "Catch :bob: "It's a real shame that people as stupid as you can work out how to use a computer. said by Christian Graus in the Soapbox
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I'm just curious how much everyone is paying for their mortgage or rent as a percentage of their take-home (net) income. I'm paying 28% of my net pay on my mortgage. How does that stack up against you?
"You can have everything in life you want if you will just help enough other people get what they want." --Zig Ziglar The Second EuroCPian Event will be in Brussels on the 4th of September Can't manage to P/Invoke that Win32 API in .NET? Why not do interop the wiki way! My Blog
I am currently paying 50% of my after-tax pay on my car loan. I am not paying for a house as I don't own one yet. Nish
Now with my own blog - void Nish(char* szBlog); My MVP tips, tricks and essays web site - www.voidnish.com
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I'm just curious how much everyone is paying for their mortgage or rent as a percentage of their take-home (net) income. I'm paying 28% of my net pay on my mortgage. How does that stack up against you?
"You can have everything in life you want if you will just help enough other people get what they want." --Zig Ziglar The Second EuroCPian Event will be in Brussels on the 4th of September Can't manage to P/Invoke that Win32 API in .NET? Why not do interop the wiki way! My Blog
22% for rent BW The Biggest Loser
"People look so snooty, take pills make them moody
Automatic bazootie, zero to tutti frutti"
-Hollywood Freaks -
I'm just curious how much everyone is paying for their mortgage or rent as a percentage of their take-home (net) income. I'm paying 28% of my net pay on my mortgage. How does that stack up against you?
"You can have everything in life you want if you will just help enough other people get what they want." --Zig Ziglar The Second EuroCPian Event will be in Brussels on the 4th of September Can't manage to P/Invoke that Win32 API in .NET? Why not do interop the wiki way! My Blog
62% if you only count my paycheck. 34% if you add in my wife's. Rent is very expensive down here. X|
Jon Sagara If you've ever watched 6-year-olds playing soccer, that's what the mainstream media is like. -- Jon Stewart
My Articles -
I'm just curious how much everyone is paying for their mortgage or rent as a percentage of their take-home (net) income. I'm paying 28% of my net pay on my mortgage. How does that stack up against you?
"You can have everything in life you want if you will just help enough other people get what they want." --Zig Ziglar The Second EuroCPian Event will be in Brussels on the 4th of September Can't manage to P/Invoke that Win32 API in .NET? Why not do interop the wiki way! My Blog
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I'm just curious how much everyone is paying for their mortgage or rent as a percentage of their take-home (net) income. I'm paying 28% of my net pay on my mortgage. How does that stack up against you?
"You can have everything in life you want if you will just help enough other people get what they want." --Zig Ziglar The Second EuroCPian Event will be in Brussels on the 4th of September Can't manage to P/Invoke that Win32 API in .NET? Why not do interop the wiki way! My Blog
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33% :omg: :(( But that's LA for you... stuff's expensive --Mike-- Personal stuff:: Ericahist | Homepage Shareware stuff:: 1ClickPicGrabber | RightClick-Encrypt CP stuff:: CP SearchBar v2.0.2 | C++ Forum FAQ ----
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I'm just curious how much everyone is paying for their mortgage or rent as a percentage of their take-home (net) income. I'm paying 28% of my net pay on my mortgage. How does that stack up against you?
"You can have everything in life you want if you will just help enough other people get what they want." --Zig Ziglar The Second EuroCPian Event will be in Brussels on the 4th of September Can't manage to P/Invoke that Win32 API in .NET? Why not do interop the wiki way! My Blog
Mine is about 26% if I make minimum payments, but it's about 66% based on the payments I make. Given how cheap housing is where I live, I can only assume you all make a ton more than I do. Christian I have drunk the cool-aid and found it wan and bitter. - Chris Maunder
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0% Never had a mortgage as I've always paid cash. - But, I'm actually studying this at the moment as I'm writing some software for lowering residential mortgage rates. - What's really interesting is that a 1% increase in interest rates can change a 28% figure like yours into a 35% figure. (many assumptions). - I suggest instead that you look at the ratio of Interest paid to net Income. As paying the capital part of a mortgage is just asset swapping for home equity. - Its typical nowdays in NZ for Interest to be about 50% of a couples NET-PAY on there first home. This is bad IMHO. Regardz Colin J Davies
*** WARNING *
This could be addictive
**The minion's version of "Catch :bob: "It's a real shame that people as stupid as you can work out how to use a computer. said by Christian Graus in the Soapbox
A lot of us in the States have fixed-rate mortgages, so the interest rate stays the same through the life of the loan. It's bad if the market interest rate goes down, but it does make for a consistent payment (much easier to budget for that, IMHO.) My goal is after this house is payed off (12 more years, sooner if I get nice raises/bonuses :) ) is to be able to pay cash for any future home. We'll see how that goes though... easily said now when I'm single and no kids so I have no need/plans to move into anything bigger. "Fish and guests stink in three days." - Benjamin Franlkin
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I am currently paying 50% of my after-tax pay on my car loan. I am not paying for a house as I don't own one yet. Nish
Now with my own blog - void Nish(char* szBlog); My MVP tips, tricks and essays web site - www.voidnish.com