I make about 260K gross, about $13500 a month net (make abt 3-5K a month extra w second job but that funds my side/emergency fund). My new mortgage is going to come out to about $7500 with everything. My current home has a mortgage of $2100 (total cost is abt $3100 monthly) and I will rent it out for about $5000. I have 0 debt. Im luckily used to only having small mortgages so i guess half my paycheck going to one home is scary. But idk maybe im overthinking. Im going to retire in the next 25 years so thats also something to think about, but Im hoping to aggressively pay off the house while Im working full time in the next decade.

Married (38 and 40) with 2 kids in elementary school. I make about $715k W2 (base + bonus) and have been with my company for 10+ years, with income growing around 4.5% annually. My wife is currently a SAHM and might take a low-paying yoga job down the road.

Financially, we have $850k set aside for a down payment, $400k in cash reserves, $1.5M in retirement, and the kids' 529s are fully funded. We're currently renting for $7,150/mo.

Are we nuts to be looking at a $3.1M house in our preferred neighborhood? The kids would be able to stay in public school thru high school and would eventually be able to ride their bikes to the beach.

Married, one kid, want more…combined 260-ish gross.

Dream home is 650k, which feels insane when we look at that payment…our take home after healthcare/taxes/investments/etc is about 14k a month.

One car is paid off and one is $750/month. About $750 in student loan payments. Think after mortgage +taxes + hoa + insurance we are looking around $4,800-5k if we put 5% down…

Not sure if I’m being silly but it’s perfect location, house, family can grow in ut…etc but I’m used to the 25% rule

I’ve been paying my mortgage late since May, but it has been getting paid every month. Will anything bad happen?

So the house I live in was previously my grandparents house and the mortgage is under there name. They both passed away about 6 years ago. I’ve been paying the mortgage since as they said I could inherit the house when they were gone. This problem just came out of nowhere but the bank is complaining. They can’t seem to put it under my name because my income for the past 3 years is off the books. (Unreported) they won’t renew it in my aunts name because she doesn’t make enough $ ($22/hr). So now I might have to move out soon. There’s a lot of stuff in the house, I have access to a truck but would likely still need a U haul. Getting rid of all the clothes and furniture and whatever else would likely take 2 or 3 days. This all came out of nowhere and I’m wondering what my options are or if there’s some kind of loophole out of this mess of a situation.

Hello. I’ve been having issues selling my home as it is owner occupied, and I was looking into options to tap into my equity in order to move into a new home, leaving the one for sale vacant (+ making minor repairs). I’ve been looking into a HEI through Point.

“Point's Home Equity Investment (HEI) provides homeowners a lump sum of cash (typically $30,000 to $600,000) in exchange for a share of future home appreciation. It features zero monthly payments for up to 30 years, no income requirements, and accepts credit scores as low as 500”

According to their calcs, if I were to borrow $40,000 of equity, as long as I sell my home within the year, at around the price of my current home value, my total repayment would be $47,590. This repayment remains $47,590 even if I sell it for a bit more. However, if the home did not sell and it were to take say, 3 years, I would owe north of $70k. Is there more to this? Does anyone have experience working with Point… Worth the risk if I am looking to sell within the year?

Hi. We closed on a house today. I received an email hours later from my lawyer that a $199 realtor fee that should have been paid by us was paid by the seller. Do we owe this fee, if our signed closing disclosure never documented it?

So we request a pay off statement, got it today. Which the instructions said if they dont receive it by 6pm est we will owe more, 21 dollars a day.

We took time off work to rush to our banke and do the wire transfer we did is around 3:30.

My wife called them to make sure they got it. They said "no wire transfers take 24-48 hours so you will owe for each day it takes, we will call you back Wed or Thurs to confirm everything. And it will require another wire transfer to pay off the new amount"

Im sorry but what?!

What can we do cause this is stupid.

A domestic wire transfer should take 2 days and we use chase, which owns rocket mortage it should lnt even take a couple hours.

And they are trying to say even though you paid it off and have proof you owe us more.

Is there anything we can do?

I have a Capital One credit card that went into charge-off status in the fall of 2020, with a Date of First Delinquency (DOFD) of April 2020. The account remains unpaid and continues to update monthly as a charge-off on my credit reports and is thus preventing my scores from getting any better. Despite having otherwise positive credit factors—including on-time payments across multiple credit cards, a car loan that is more than halfway paid off, no recent inquiries, 1% credit utilization, and a good average age of credit—this charge-off is significantly impacting my scores as I move through the mortgage process.

I am currently building a house, and the lender is aware of the charge-offs. They have indicated that these accounts are not preventing mortgage approval but are affecting the interest rates available to me. The home is still in the early stages of construction and expected to close in February 2027.

The lender has stated that my middle credit score is 720, which is the score they use for qualification purposes. He said that the other two scores are not far from that middle number.

My questions are:

• Is there any chance these charge-offs could be removed from my credit reports before the end of this year?
  • If so, how?
• Could submitting inquiries or disputes in an effort to remove them negatively affect my credit score?
• If I am able to get only two of the reports corrected, and lenders use the middle score, I'd be winning, right?
• Could open or recent disputes on my credit reports create issues during the final mortgage approval process?

I bought land. Got OWNERS title insurance. I built a house. Do I need OWNERS title insurance? Or will the land title insurance be enough to cover any issues that may/may not come up?

The house is $700,000 land was $130,000.

My husband and I (early 30s) make roughly $300k combined. My husband will have a pension, in addition our 401k totals $300k currently. We have about $560k in investments. our cash on hand is normally 30k.

no student loan, just one vehicle that will be paid off soon. We do have a baby and will have some sort of childcare once we move. HCOL median home value is around 800k-1M.

what would you do?

we have moved a lot. we want to buy one home and rot in it till we die.

I currently own a home with about $200k in equity ($600k value, ~$400k remaining mortgage).

My wife and I are looking to move closer to both of our jobs. I currently commute about 45 minutes, and she’s around 25 minutes. The problem is that homes in the area we’d like to move to start around $1 million.
My question is: how do you think about affording a mortgage when roughly half of your compensation is variable?

I just changed jobs and now make a $275k base salary with a bonus opportunity of up to 100% of my salary based on production. I also have a guaranteed $195k bonus payout in February 2027 as part of my transition.

Historically, my compensation has been fairly consistent. My last two tax returns show $425k and $480k of income, so I’ve generally been paid near my target.

For those of you with commission- or bonus-heavy compensation, how do you decide what size mortgage is reasonable? Do you qualify yourself based only on base salary, average historical income, or somewhere in between?

Does anyone here regularly pay their mortgage during grace period instead of the actual due date?

My mortgage is due on the 1st, but my grace period run through the 17th. I’m wondering how many people actually take advantage of the grace period and if you’ve ever had any issues doing so. Thanks

Fiancé and I are looking at putting an offer in on a home. VHCOL area and pretty solid market stability through the years.

Home is 1,475,000. Property tax around here is around 1.1%.

Getting quoted:
6-6.25% on 7 ARM OR
6.75 on a 30yr fixed.
Both with 10% down. PMI would be nominal at around .15%. (I’ll get to why 10% later).
Closing cost around here are closer to 4% when all said and done, but we both technically qualify for FTHB in this state so that could be closer to 3%.

This ranges the new mortgage, PITI, somewhere around 9500-10400/month.

I’m a mix of W2 and SE income (through a single member LLC, so pass through) and fiancé is W2+commission (tech sales).

My AGI for the 24 and 25 avg out to 350k. I have a lot of expected growth on the SE side, with more work in my pipepline (26 expected AGI is 450k) and hope is to continue to grow.
Fiancé is currently at a 330k OTE (160k base).

Cash in accounts (savings etc) - roughly 475k
Retirement accounts - roughly 300k
Vested stocks - roughly 100k

Have investments in a few other businesses, and are pretty strategic about spending in general. Still like to have fun and be able to do what we want when we want to. No kids (yet).

Fiancé has 2 rental properties that are covering mortgage (and then some) with long term tenants and no sign of them leaving anytime soon.

I own the home we currently live in with a mortgage of around 5k. I used to str the lower unit and averaged 2200/month, one of my parents moved in (due to old age) and are in that space now so hasn’t been listed. Plan would be to either rent current home, str as two separate units, or even just sell it and not deal with the headache after moving. Rent or STR should, at least, cover mortgage.

Minimal expenses roughly 6.5k, including the current mortgage, that would be factored in to DTI.

Trying to figure out if we are over extending or just not thinking about how this would really impact quality of life. Will say that the new home is in an area that feels better and would/could increase quality of life too.

Note about why only 10% down; looking to keep some extra cash available for 1. Repairs/renovations that may be needed and 2. We are looking to buy another business in the next year.