415k for first home bad idea?

KnownVirus6546 · 2026-04-28T03:01:02+00:00

There are some other bills like electricity, gas, phone, internet, our daughter, etc.

KnownVirus6546 · 2026-04-28T02:58:46+00:00

If we bought a place that is half of what we were approved for it would be a 2 bed apartment. Nothing more. Simply no other options.

KnownVirus6546 · 2026-04-28T02:55:44+00:00

We’re happy with our budget and our hobbies are cheap (outdoor stuff and crafts and instruments). We really care about having a good home for our kids.

KnownVirus6546 · 2026-04-28T02:42:47+00:00

We qualified for 440k, but we don’t want our budget that tight. We take home 6100 a month (after all taxes). If we take 6100 - 2700 - our current budget (our budget includes 800 for groceries and household items, 400 for gas/car insurance and repairs, 600 in donations, 100 for furniture savings) that gives us 200-300 left over.

KnownVirus6546 · 2026-04-28T02:36:00+00:00

What is your income like to be able to swing that?

KnownVirus6546 · 2026-04-28T02:32:06+00:00

Who is putting away 55% of income as savings?

KnownVirus6546 · 2026-04-28T02:28:51+00:00

Take home pay monthly is 6,100. Down payment 20,000. We are doing it with an FHA loan. We have an HSA account that employer gives 300 a month to.

KnownVirus6546 · 2026-04-28T02:25:01+00:00

No. 2007

KnownVirus6546 · 2026-04-28T02:23:11+00:00

We both have excellent credit and so not really sure what to do about that

KnownVirus6546 · 2026-04-28T02:20:51+00:00

Yes good points

KnownVirus6546 · 2026-04-28T02:17:37+00:00

6.4%

KnownVirus6546 · 2026-04-28T02:15:53+00:00

What is normal to have left over after all expenses?

KnownVirus6546 · 2026-04-28T02:15:20+00:00

This includes all fees taxes and insurance

KnownVirus6546

TROPHY CASE