How Much Mortgage Can I Afford? How to Calculate

#debttoincome #howmuchmortgage #howtobuyahouse
How Much Mortgage Can I Afford? How to Calculate

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[rogerwilliams]

For all of you complaining about the 10K she used as an example please stop. Just insert your own numbers into the equation. If you make 2K per month it's 600 a month at 30% or 860 at 43%. She ALSO provided the link for the mortgage calculator. Wth people? 😂

[veronicaavila]

Finally something I can see as a goal ratio, thank you so much. A big help

[alexy]

In my opinion, housing prices are OK everywhere. What is the most common dealbreaker for me is the HOA fees. I don't think HOA should be legal.

[martinis_mission]

Hahaha I’m glad people in the comments can relate to me

[SwitchFloz]

Give her some slack. 10k a month can be family income. Gross not take home. Beside she gave us the 30-43% calculation so plug your numbers in. 🤦🏾‍♂️🤦🏾‍♂️🤦🏾‍♂️ please don’t add your over time pay or bonus pay DONT SET YOUR SELF UP

[bhetzel]

remember folks, banks want you to be around 30%. however, if you can, go with the lowest percent for the house you feel is in the safest neighborhood within a decent school district. do not refinance your house, just pay more on your principal! look into financial independence - you can't do that if you have no money left over after the house and car and school and food and day care, etc...

[hussamtulimat]

how many people are making 10K monthly?

[JOPBEAR]

43% is a ton but thanks for setting low and high ends and including income vs debt! Really important

[mosusjosay]

Hi I think monthly gross income is fake income due to the fact taxes take a good portion of your monthly income. I like to use net income since it shows the actual income I take home. What percentage of your net income should go towards the mortgage? Thanks

[SOLDbyNat]

While she used 10k for simple math, there are households that make $10k+ a month. Especially with combined incomes, small businesses, entrepreneurs, etc.

[BlaccOut]

10000 a month? What about us normal folks.

[jayhulrs]

So this is for the rich. Who has a 700 car payment?? And makes 10k a month

[psnFlashyGuy]

Dave Ramsey actually recommends your mortgage payment be no more than 25% of your TAKE HOME monthly pay, not gross. That's far more conservative than what you are recommending.

[dwill]

this is not for the rich. if you are married, two people making 60k a year that should give you the 10k. thats very normal

[afinteresting]

i need to find a job that pays 10k a month

[codyjo]

Ramsey's recommendations are based on net income, not gross income. 25% to be exact

[YoungMulahBB]

So many ppl whining about making 10k a month. Some of us make well over that and can benefit from her advise. Jeez.

[bondockz]

Dave Ramsey recommends 25% of your take home pay on no more than a 15 yr mortgage. Not 30% of your gross pay.

[jasonvalmitchell]

I love this video!!! I love the exact amount you use! We live in Charlotte, NC. My husband’s Salary is 11k a month. We bought low 360k we are now wanting more land. Houses we are looking at now are 450k-550k. I honestly hate the videos where they talk about the homes being 100k. This was very relatable to our exact situation!! We also only have $450 a month credit card debt. 😃

[mattjohnson]

Actually if you listen to Dave Ramsey he suggests that your mortgage payment not exceed 28% of your net income. Not 30% of gross. Not to knit pick but that's a big difference.