The Jumbo Mortgage / % of your income goes to Housing

stop cluttering up the boards with your nonsense.

What are you talking about?

I hear you...
I want to take out a Jumbo to aquire a place...correct?
What precentage of my gross income should my housing expence be?
If that is your question, try to be a little more focused and clear from the begining, it will yeild better responces and, help aviod responces like hotproperty's.
Traditionally, 37% of you gross income is the upper upper deck. Anythng greater that that is clearly a home that is out of you income savings range. I will amend this and say, as of today I would call it closer to 28%, for a varity of factors, like our current eco situation and one must consider the looming possability inflation which should show up eventually. All these factors relay on the stability ans sustainabilty of you income generating ability. when you buy over your head you run the risk of drowning.

I was paying 37% of my income in rent in Manhattan and just hated it . . . felt like I went to work to make a landlord rich. I'll bet I might feel the same way if I owned it. Sub in the word banker for landlord.

why don't you follow the good advice from hot property?

What's your income?

Stick_man is a lonely bigoted troll

Need to find out your income - % is only a guide, and matters the most if you are making less.

When I was making 65k in '97, NJ taxes, I was comfortable paying up to $1100 in rent (I was netting approx. 4k/month).
After a few months, I realized that while 25% was doable, I wasn't saving enough at my income level to feel good.
So I moved and lowered my rent to $400.

Now, if I was making 125k and paying $2100, the ratio stays the same at 25% but I would be saving more in absolute terms...

37% of net (?) is way too high.

Got cut off. 37% of net at say, 100k gross is too high.