Percentage of pay on home
-
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 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
-
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 ----
-
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
-
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
-
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
-
Nishant S wrote: I am currently paying 50% of my after-tax pay on my car loan. :omg: I hope that's one NICE car... "Fish and guests stink in three days." - Benjamin Franlkin
Navin wrote: I hope that's one NICE car... My new car [from my blog][^] Nish
Now with my own blog - void Nish(char* szBlog); My MVP tips, tricks and essays web site - www.voidnish.com
-
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
Oh, I can't wait for the day to buy. If only I wasn't so stupid in a former life, and made a hobby of collecting debt. :doh: I am close though, and am getting antsy to start seriously looking for a new place to hang my hat.:) 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
33% for me - also in LA...but I am diverting 20% of my pay into the company 401K (retirement) plan...if you don't count that it would be about 25%...I did buy the house in 1980 and have re-financed 3 times already to get better rates. Originally the loan was 12% interest :omg: (which in 1980 was a very good rate) Steve
-
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
ColinDavies wrote: They must be using a real legacy system to have that happening these days No, it is quite a modern bank. They just announced that they are closing a number of branches because people don't use them as they are all on-line. With this calculation the bank can offer a low interest rate knowing that any customers who pay a little bit extra each month are not making the dent until the following year so it plays in to the banks favour. If all you ever do is pay the standard amount each month it makes no difference. But the irritation for me will be in Oct2005 when my discount period is over and I'm looking for a new mortage. If I swap mortgage products before December then I am losing money, if I keep the mortgage until then I am going to have to pay the higher monthly payments for Oct, Nov & Dec because they will have calculated factored in that extra interest 9 months earlier. However, lesson learned :- Pay closer attention to how the interest is calculated before signing up.
"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
Nishant S wrote: I am not paying for a house as I don't own one yet Surely you must be at least renting a house/flat or something?
"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)Antony M Kancidrowski wrote: I'm paying approx 22% in rent. Its about time I got on the 1st rung of the property ladder. Right now, you'd be better off waiting (until the interest rates have settled). Although I'm sure the house prices down south are a lot better than the prices houses are going for up here. £103,900 for one of the houses next door to me! Michael CP Blog [^]
-
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 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
Around 33% goes towards my fixed rate mortage. I've just bought my 1bed flat, so I've got a lot of payments to look forward to! I'm thinking as well that the ratio increases a heck of a lot if you include related payments like building and content insurance, morgage illness cover, ground rent, etc. I don't even want to think what the total cost of the upkeep is :omg:
I Dream of Absolute Zero
-
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 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
You may think this is crazy, but my mortgage is 60% of my new pay. However, the remaining 40% of my pay pays all the bills (except property tax and auto insurance). My wife has a job and she is payed almost as much as I am. We put her check in the bank every 2 weeks and use it for groceries, gas, and vacations. It works out well because we can save a lot, so if we , for example, want to spend $1000 to have a landscaper do some work on our house, we don't have to put it on the credit card. Regards, Brigg Thorp Senior Software Engineer Timex Corporation
-
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.
I'm living with my parents right now (close enough to work, not sufficiently irritating to actually move out) and am paying them 13% of net salary (which also includes food). If I were to move out I'd be lucky to be able to rent a shoebox at under 35% of salary. There's no realistic way for me to buy as house price inflation is out-accelerating the rate at which I can save. I have to hope (sorry all mortgage-holders) for a price crash. (Yes, my salary sucks.) Stability. What an interesting concept. -- Chris Maunder
-
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
10% of my total household income (two wage earners). ------- sig starts "I've heard some drivers saying, 'We're going too fast here...'. If you're not here to race, go the hell home - don't come here and grumble about going too fast. Why don't you tie a kerosene rag around your ankles so the ants won't climb up and eat your candy ass..." - Dale Earnhardt "...the staggering layers of obscenity in your statement make it a work of art on so many levels." - Jason Jystad, 10/26/2001
-
Colin Angus Mackay wrote: I'm paying 28% of my net pay on my mortgage. How does that stack up against you? I don't have a mortgage. I have my son's tuition payments. $900/mo is a good sized mortgage payment equivalent! :) Marc Microsoft MVP, Visual C# MyXaml MyXaml Blog
Marc Clifton wrote: I have my son's tuition payments. $900/mo is a good sized mortgage payment equivalent! As a parent with 2 young children this statement intersts me. Is this standard fair in the US for a 13 year old to be tutored? Is this an average cost? Is he already extra work outside of his core schooling? We seem to follow the US in a lot of trends so I expect this to arrive sooner rather than later. Michael Martin Australia "I controlled my laughter and simple said "No,I am very busy,so I can't write any code for you". The moment they heard this all the smiling face turned into a sad looking face and one of them farted. So i had to leave the place as soon as possible." - Mr.Prakash 24/04/2004
-
Marc Clifton wrote: I have my son's tuition payments. $900/mo is a good sized mortgage payment equivalent! As a parent with 2 young children this statement intersts me. Is this standard fair in the US for a 13 year old to be tutored? Is this an average cost? Is he already extra work outside of his core schooling? We seem to follow the US in a lot of trends so I expect this to arrive sooner rather than later. Michael Martin Australia "I controlled my laughter and simple said "No,I am very busy,so I can't write any code for you". The moment they heard this all the smiling face turned into a sad looking face and one of them farted. So i had to leave the place as soon as possible." - Mr.Prakash 24/04/2004
Michael Martin wrote: Is this standard fair in the US for a 13 year old to be tutored? It varies. Catholic schools are sometimes lower--for example, high school just down the road is $6000/yr at The Prout School. Waldorf schools (where my son goes), about $10K/yr is typical for 7th/8th grade. Waldorf high schools range from $10K to $20K. Needless to say, we're looking at the $10K range. But you have to realize, I'm lucky that I can put my son in a private school. It really is amazing the difference in the quality of the education. Michael Martin wrote: Is he already extra work outside of his core schooling? Not quite sure what you meant here. Work, as in job type stuff? Actually, during the summer he volunteers at the local alternative food co-op (organic foods). Does a variety of stuff at the store, except for handling the cash register. School-wise, his homework, violin and recorder practice, and special projects keep him pretty busy during the school year. Marc Microsoft MVP, Visual C# MyXaml MyXaml Blog
