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A comment on What is it like making around $130k in Sunnyvale, California as an engineer?. Parent comment

Re:What is it like making around $130k in Sunnyvale, Califor... by FireBeyond on Monday February 15, 2016 @11:02PM (#11107817)
Yeah, that math is not going to work, even closely.

$200K a year works out at around $11K/month after tax.

15% on a $1.2M home is $180K - even by your estimations that's 6-18 years savings.

So a $1.02M loan over 30 years... 1.1% property tax, 0.5% PMI, 4% interest...

You're looking at a $6,000 mortgage payment (www.mortgagecalculator.org).

Yes, frugal living says you could manage that at 200K.

Your mortgage originator is not even remotely, no matter how convincing you are, going to underwrite a loan with a mortgage payment of 55% of your after tax income.

At 130K, no. That's 85% of your paycheck going to mortgage.

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Re:What is it like making around $130k in Sunnyvale, Califor... by joshmn on Tuesday February 16, 2016 @12:07AM (#11107994)
> Your mortgage originator is not even remotely, no matter how convincing you are, going to underwrite a loan with a mortgage payment of 55% of your after tax income.

Not in 2016 at least.

[ Parent | on HN ]