Re:“Your monthly rent .. shall increase from $2145 to $8900”
by ryan-c on Monday March 16, 2015 @02:18AM
(#9210128)
Normally mortgage payments aren't allowed to be more than 38% of gross income for someone with no debt which works out to $4750 for $1M/yr, and you generally have to have a 20% down payment, and even then, it's still going to have to be a jumbo mortgage.
Re:“Your monthly rent .. shall increase from $2145 to $8900”
by ryan-c on Monday March 16, 2015 @10:10AM
(#9211479)
"$1M/yr" should have been "$150k/yr" there.
Re:“Your monthly rent .. shall increase from $2145 to $8900”
by spiralpolitik on Monday March 16, 2015 @09:18AM
(#9211212)
On what planet is 2/3 of your post tax income considered to be easy ?
(Also most of the units being built require HOA membership so tack on another 1k to your monthly outgoing)
What is affordable? I'm not in SF (or the U.S.), but as I understand salaries of $150k+ in tech are common. Mortgage repayments on a $1mm property work out to be ~$5,000 a month for a 35 year mortgage, which you can easily pay if you are earning that much.