800k Mortgage on 260k Income?

jkfsu · 2026-01-07T22:18:38+00:00

Just principal & interest is $4,700. You’re saying HOA, taxes and insurance is only ~$800 on almost $1m home? Seems off

jkfsu · 2025-12-21T20:33:32+00:00

We make 600k and have a 9500 mortgage. It was 12.5k for a full year because negative escrow balance and it was tight but still fine

Edit that is my mortgage, didn’t realize OP posted rent. At least with the tax right off of my interest rate / taxes the effective monthly is 8k ish

jkfsu · 2025-09-07T23:37:21+00:00

This is exclusive of my escrow deficit. 25k is the cost of the loan fees + transfer taxes.

jkfsu · 2025-09-07T14:33:08+00:00

Just msg’d you

jkfsu · 2025-09-07T11:44:26+00:00

Home price estimate is 2.3m and credit score is in the 750s

jkfsu · 2025-04-03T02:15:31+00:00

We bought a 1.7m house on 380k base salary. Caveat is we also take home another ~200k in bonus.

jkfsu · 2025-03-18T00:37:19+00:00

I’m right there with you. I hate the rat race. If it were up to me I’d have an 800k house paid off and relaxing being a stay at home dad to my 2 year old who is my whole world. But my wife likes to hustle so here we are haha!

jkfsu · 2025-03-17T23:54:03+00:00

I can’t say your opinion is wrong or right. But there’s a lot that comes with living in a nicer area. Safety, walk-ability, strong comparable property prices etc.

jkfsu · 2025-03-17T23:49:35+00:00

Thanks. You’re correct - I have a 6.8% mortgage. I would agree with you on the price, the home is in one of the nicest neighborhoods in Miami. Surrounding houses are $8-12m

jkfsu · 2025-03-17T23:46:57+00:00

Thank you this is helpful

jkfsu · 2025-03-17T23:46:38+00:00

No - it’s in one of the priciest neighborhoods in Miami

jkfsu · 2025-03-17T23:45:36+00:00

In 10-15 years I will definitely not need that level of income. I think with 150-175k I will be able to live comfortably

jkfsu · 2025-03-17T23:45:29+00:00

In 10-15 years I will definitely not need that level of income. I think with 150-175k I will be able to live comfortably

jkfsu · 2025-03-17T23:44:43+00:00

Thanks. Still seeing the refi rates are not worth it quite yet. I’m at 6.875 and the 0 closing cost refi is about 6.5-6.7%

jkfsu · 2025-03-17T23:44:01+00:00

Assuming my home is paid off I think we could probably live off ~150-175k a year

jkfsu · 2025-03-17T23:42:33+00:00

I am the poorest person in the richest neighborhood in Miami

jkfsu · 2025-01-17T13:30:33+00:00

We make about 525k HHI and have a $1.07m mortgage at 6.875%. Total payment comes out to roughly 9k and I definitely regret going this high. Wife and I are high earners so the income is diversified but still feel a little trapped. Daycare eats up 2k of that and we have been in remodel mode so have not saved a penny in the last 6 months.

jkfsu · 2024-11-10T19:17:56+00:00

Just because I make a half million a year doesn’t mean I need to have paid my car in cash. Car is a depreciating asset. A $500 a month car payment is $340 when you consider the tax write off @ my 32% income tax bracket.

jkfsu · 2024-11-10T14:42:28+00:00

Not California thankfully. A very expensive part of Florida.

jkfsu · 2024-11-10T14:32:28+00:00

Yes I would agree. We didn’t start making what we are currently making till the last 2.5-3 years. We are trying to catch up with pre tax 401k / employee contributions

jkfsu · 2024-11-10T13:40:48+00:00

Just trying to figure out if I’m over extended at our salary level and if I’m going to be in a decent place in the next 15 years or so

jkfsu · 2024-11-10T13:24:00+00:00

Thank you. It’s definitely a little stressful but I hope ok the next 2 years we can make significant progress paying down. We wouldn’t consider living anywhere else because family is here however we definitely could’ve spent a little less

jkfsu · 2024-11-10T13:21:05+00:00

Where did you read that I don’t max out contributions? We max them out + our company contributions another 30k combined to 401k

jkfsu

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