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Old 08-20-08, 08:39 AM
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Default mortgage vs take home pay

I'm being nosey- but it's for a good cause.
 


What percentage of your net take home pay goes toward your mortgage? Do you have a 15 or 30 year?

I know what percentage it's "supposed" to be, but I was just wondering. I *think* dh and I are in the lower range, but I was wondering.
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Old 08-20-08, 08:44 AM
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Sheesh! I need to get back to school and get my brain back from mush-mode. I had a hard time figuring out the percentage! OMG!

Ours is about 17% right now. It's a 30yr.
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Old 08-20-08, 08:45 AM
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I think ours is about 20%. I'm not really sure. Is it bad that I don't know what my dh's take home pay is ?
 
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Old 08-20-08, 09:32 AM
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Ours is about 22% (that just using base pay and no OT for DH). Mortgages are different here in Canada so I can't comment on the 15 or 30 yr.
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Old 08-20-08, 09:38 AM
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Oh and ours is a 30 year with a second line of credit loan that we paid off the first year to reduce our payments. We didn't want to finace the whole amount in a 30 year loan so we opted to finance about $20K in a second line to be able to pay it off at the pace we could afford and still write off on taxes.
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