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What should our house budget be for a 90k per year salary?

What should our house budget be for a 90k per year salary?

Rhomya

I would recommend a mortgage payment of no more than 25% of your income. So if your monthly take home income is 4K, have it be no more than 1K Talk to a lender at a bank for a better breakdown, since home loans come with different time frames. If you can get a relatively inexpensive home and still be happy with it, then you can do a 15 year loan which would save you a ton in interest.


SliverSerfer

We make over $200K and spent less than $400K on a house.


ghostbaker666

I would say 3x your combined yearly salary. So about 270k


Teucer357

The absolute maximum your monthly housing expenses should cost is 35% of your monthly income. **HOWEVER**, remember that taxes, insurance, and maintenance are **included** in that 35%. Depending on where you live, taxes and insurance could actually end up being higher than your mortgage payment.