https://boards.hellobee.com/ Pregnancy, Baby and Parenting blog, by Hellobee en Sun, 10 May 2026 19:48:53 +0000 https://boards.hellobee.com/topic/mortgage-as-multiple-of-salary-1#post-1861624 Sat, 13 Sep 2014 19:33:16 +0000 BeachMama 1861624@https://boards.hellobee.com/ <p>We just bought our first place and it's about 3x. We live in Southern California, though, so it's pretty impossible to find anything "affordable" </p> https://boards.hellobee.com/topic/mortgage-as-multiple-of-salary-1#post-1861361 Sat, 13 Sep 2014 12:39:34 +0000 MrsADS 1861361@https://boards.hellobee.com/ <p>Ours is about 2.3 of gross. I didn't do that calculation until now. Hmm, interesting to know. </p> https://boards.hellobee.com/topic/mortgage-as-multiple-of-salary-1#post-1861272 Sat, 13 Sep 2014 10:23:28 +0000 Modern Daisy 1861272@https://boards.hellobee.com/ <p>Our current mortgage is 2.5, but the mortgage on our new home will be about .75. WE are going to LOVE not living at the top of our budget, lol! </p> https://boards.hellobee.com/topic/mortgage-as-multiple-of-salary-1#post-1848500 Thu, 04 Sep 2014 07:58:19 +0000 MrsTiz 1848500@https://boards.hellobee.com/ <p>Roughly 2.5x, closer to 2x. </p> https://boards.hellobee.com/topic/mortgage-as-multiple-of-salary-1#post-1848444 Thu, 04 Sep 2014 07:04:57 +0000 JCCovi 1848444@https://boards.hellobee.com/ <p>Ours only has about a fourth of our annual salaries left on it, but we bought a major fixer upper in a bad neighborhood (the neighborhood has really picked up which is what we were counting on and some of the sales prices now are double our purchase price for little bitty houses whereas ours are huge.) That being said we're very motivated to pay it off but once we do we're going to dive back in to some major renovations. I'd say we'll put another $100k into it (we've already spent more then that on repairs, but some were wrapped into our mortgage). </p> https://boards.hellobee.com/topic/mortgage-as-multiple-of-salary-1#post-1848391 Thu, 04 Sep 2014 06:07:18 +0000 travellingbee 1848391@https://boards.hellobee.com/ <p>@Myicitygirl: ok thanks. Then it's slightly more than 1x our annual salary. </p> https://boards.hellobee.com/topic/mortgage-as-multiple-of-salary-1#post-1848377 Thu, 04 Sep 2014 05:19:54 +0000 Ree723 1848377@https://boards.hellobee.com/ <p>We've just taken out a mortgage for slightly less than 4x DH's salary. We're a single income family living in a very expensive part of England so anything less than that wouldn't have met our needs. Four times income is the standard loan ratio here; we were pre-approved for 4.5x DH's income but really didn't want to go that high. </p> <p>It doesn't feel like a burden to us though - our monthly mortgage payment, plus insurance and council taxes, is still only 34% of DH's take home pay, seems pretty reasonable and comfortable to us. We also kept a fairly large retainer in our savings account though so we're not living pay check to pay check either, which may make a bit of a difference. </p> https://boards.hellobee.com/topic/mortgage-as-multiple-of-salary-1#post-1848369 Thu, 04 Sep 2014 04:20:11 +0000 matador84 1848369@https://boards.hellobee.com/ <p>Equal to or just a little less than our income. I could never live in a place where my mortgage was 2-3 times my income. Meaning that, I just don't know if I could bear the financial burden. </p> https://boards.hellobee.com/topic/mortgage-as-multiple-of-salary-1#post-1848329 Thu, 04 Sep 2014 00:18:07 +0000 Sapphiresun 1848329@https://boards.hellobee.com/ <p>We live in what's reportedly the 2nd most unaffordable housing city in the world. </p> <p>The average single family home is 9x the average household income. Pretty much what would be considered a crack shack tear down in almost any other city sells for over 1M.</p> <p>Our personal mortgage though was initially 2x our combined gross income. However it's a teeny tiny condo an hour and a half drive from downtown, and we have two near 6 figure salaries... sigh. </p> https://boards.hellobee.com/topic/mortgage-as-multiple-of-salary-1#post-1848305 Wed, 03 Sep 2014 23:07:39 +0000 Corduroy 1848305@https://boards.hellobee.com/ <p>Our mortgage is 3x our gross. </p> https://boards.hellobee.com/topic/mortgage-as-multiple-of-salary-1#post-1848293 Wed, 03 Sep 2014 22:41:02 +0000 ScarletBegonia 1848293@https://boards.hellobee.com/ <p>Ours is almost 5X. I hate Sydney. </p> https://boards.hellobee.com/topic/mortgage-as-multiple-of-salary-1#post-1848291 Wed, 03 Sep 2014 22:36:11 +0000 Myicitygirl 1848291@https://boards.hellobee.com/ <p>@travellingbee: salary before tax. I was a bit shocked at home prices here, and was trying to determine the ratio with which I could be comfortable. I know home prices really vary by area, but I wanted to do an unscientific survey. </p> https://boards.hellobee.com/topic/mortgage-as-multiple-of-salary-1#post-1848278 Wed, 03 Sep 2014 22:29:59 +0000 Myicitygirl 1848278@https://boards.hellobee.com/ <p>@kml636: because of our children and DH's work location, we were only looking in the Torrey Hills and Carmel Valley communities in North County (think tract home suburbia, solid schools) and we bought in Torrey Hills. </p> <p>Do you know where you will be working? If you want to be closer to downtown, shopping, and restaurants, I recommend looking at the UTC area. Rents will be lower and there are plenty of apartments. The community has a more youthful feel because of the college student population.</p> <p>As far as buying, SD has so many different communities, it depends on your criteria for buying. Do you want to be near the beach communities, like Mission Beach? In the northern suburbs with good schools, like Carmel Valley? In a walkable downtown neighborhood like Kensington Heights? </p> <p>I am not an expert on SD because we have only lived here 2 years, but I am happy to try to answer any questions you have. </p> https://boards.hellobee.com/topic/mortgage-as-multiple-of-salary-1#post-1848122 Wed, 03 Sep 2014 20:29:57 +0000 travellingbee 1848122@https://boards.hellobee.com/ <p>@Myicitygirl: compared to take home or salary? </p> https://boards.hellobee.com/topic/mortgage-as-multiple-of-salary-1#post-1848116 Wed, 03 Sep 2014 20:26:19 +0000 kml636 1848116@https://boards.hellobee.com/ <p>@Myicitygirl: DH and I are most likely moving to San Diego this fall/winter. Totally overwhelmed after looking at housing prices! Where did you end up buying? We are going to rent the first year until we figure out where to live... but renting is so expensive too! I'm grateful for any and all SD advice :) </p> https://boards.hellobee.com/topic/mortgage-as-multiple-of-salary-1#post-918913 Wed, 10 Jul 2013 09:52:15 +0000 Mrs. Jump Rope 918913@https://boards.hellobee.com/ <p>Our purchase price is 1.5x our combined income, but we owe less. We bought our house 4 years ago. </p> https://boards.hellobee.com/topic/mortgage-as-multiple-of-salary-1#post-918904 Wed, 10 Jul 2013 09:49:26 +0000 regberadaisy 918904@https://boards.hellobee.com/ <p>Between 1 and 2x of our combined gross income. </p> https://boards.hellobee.com/topic/mortgage-as-multiple-of-salary-1#post-918888 Wed, 10 Jul 2013 09:42:45 +0000 looch 918888@https://boards.hellobee.com/ <p>Ours is a little more than 1.5, we put down 25%. We could have bought more house for more money, but we wanted a bit of protection in case one of us decided not to work any more or we both decided to reduce our hours. </p> https://boards.hellobee.com/topic/mortgage-as-multiple-of-salary-1#post-918876 Wed, 10 Jul 2013 09:38:36 +0000 Adira 918876@https://boards.hellobee.com/ <p>Ours was 2.5x our gross income. </p> https://boards.hellobee.com/topic/mortgage-as-multiple-of-salary-1#post-918874 Wed, 10 Jul 2013 09:35:48 +0000 hilary 918874@https://boards.hellobee.com/ <p>We're currently in contract on both our current and the new. But the new is a very lateral move with lots of projects in our future. Trying to get to the point where my income is not necessary just to give us more flexibility. Also college will cost a fortune by the time LO is that old. Might be doomed to small houses for ever. </p> https://boards.hellobee.com/topic/mortgage-as-multiple-of-salary-1#post-918156 Wed, 10 Jul 2013 01:49:16 +0000 mole 918156@https://boards.hellobee.com/ <p>@Myicitygirl: We just bought a single family home in LA, and man oh man, I never thought I would spend so much money. </p> https://boards.hellobee.com/topic/mortgage-as-multiple-of-salary-1#post-918071 Tue, 09 Jul 2013 23:39:35 +0000 deactivated_account 918071@https://boards.hellobee.com/ <p>I bought my condo myself. Now that I'm married, I'm hoping DH and I can move up soon. I wish I had a million dollar budget though!! That's about how much the houses I feel I should be in cost!! I live in Orange County and have champagne taste on a total beer budget!! </p> https://boards.hellobee.com/topic/mortgage-as-multiple-of-salary-1#post-917157 Tue, 09 Jul 2013 18:53:04 +0000 PurplePeony 917157@https://boards.hellobee.com/ <p>Ours was about 2.15x our gross combined salaries when we signed on the dotted line; it's now down to just about 2x. Of course, the monthly payment amount hasn't changed so it doesn't really make much difference! </p> https://boards.hellobee.com/topic/mortgage-as-multiple-of-salary-1#post-917142 Tue, 09 Jul 2013 18:50:26 +0000 ShootingStar 917142@https://boards.hellobee.com/ <p>Our mortgage started out about $35k more than what we make annually now. Though I initially bought the house myself and it was between 2-3x what my annual salary was. </p> https://boards.hellobee.com/topic/mortgage-as-multiple-of-salary-1#post-917108 Tue, 09 Jul 2013 18:43:56 +0000 mediagirl 917108@https://boards.hellobee.com/ <p>Interesting poll question! </p> <p>Currently, between 1-2. We want to move soon. When we do, it will be 2-3. </p> https://boards.hellobee.com/topic/mortgage-as-multiple-of-salary-1#post-917106 Tue, 09 Jul 2013 18:43:37 +0000 SugarplumsMom 917106@https://boards.hellobee.com/ <p>Our mortgage is about 2.5x our net. I'm not sure about our gross, we pay a whole lot of taxes and it's a little complicated to calculate it here (plus, it's all magically deducted for you). </p> https://boards.hellobee.com/topic/mortgage-as-multiple-of-salary-1#post-917071 Tue, 09 Jul 2013 18:31:51 +0000 Myicitygirl 917071@https://boards.hellobee.com/ <p>So we are looking for our first family home in San Diego. We want a house we can spend the next 20 years in. We are currently a family of 3, hoping to be 4 soon. </p> <p>For what we want, in the area we want, we are looking at approximately a million dollar mortgage, AFTER putting 20% down. A million is a lot of money!! But inventory is really low here, which is pushing prices up unfortunately.</p> <p>How big is your mortgage compared to income? </p>