ST Alpha - "Ok, but for a $500k house, 30 year mortgage, you're still paying what? $2500/mo? That's nearly 50% of the salary -- nm" (Reading a Post)

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In response to "yes, this -- nm" by Beryllium

Ok, but for a $500k house, 30 year mortgage, you're still paying what? $2500/mo? That's nearly 50% of the salary -- nm

Posted by oblique (aka kkuphal) Sep 14 '10, 11:41

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Responses:

depends what you put down. you don't buy a $500K house without a down payment. - Andie Sep 14, 11:42 6
- Either way, with most lenders preferring a < 40% debt-to-income ratio by what I can tell, that's ridiculous -- nm - oblique Sep 14, 11:45
- also, do you pay property taxes there? nm -- nm - groiny Sep 14, 11:43 4
  - of course. -- nm - Andie Sep 14, 11:44 3
    - see, I can afford a 400k house here, I just can not afford the taxes on it. nm -- nm - groiny Sep 14, 11:44 2
      - though from what I understand, they're much much lower here. - Reagen Sep 14, 11:46 1
        
        That's also varible. Winnipeg, which also includes a portion of property taxes for schools, would be three or four times that. -- nm - Name Withheld by Request Sep 14, 11:58

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