What percentage of income do you spend on mortgage?

**changed4life** · 10-30-2007, 05:22 AM

I wasn't sure which topic this actually fit into, but anyway...

What percentage of your monthly take home income do you spend on your mortgage payment? Does this include your property taxes?

We pay about 33% on our monthly mortgage which includes our property taxes. However, my husband racks up a lot of overtime hours in his position. When he does, we spend about 26% of our monthly income on mortgage.

Where do you fit in?

**Its_Donna** · 10-30-2007, 05:24 AM

We are currently at approx. 40% and that includes taxes and insurance.

**Neeley** · 10-30-2007, 05:34 AM

Are you talking about take home pay? or pre-tax, pre-investment, pre-insurance,etc....?

If we are talking monthly take home pay, it would be around 25% (the best I can figure without asking DH). He has a good bit of his pay directly put into saving before his pay gets direct deposited into the checking account so the exact amount I am not totally sure about.

Now if you are talking what percent of his annual take home pay then it would be more like 20% or a little under 20%. He gets a substantial annual bonus every November. He does not get overtime since he is a salaried employee.

If we are talking pre-tax, pre-insurance, pre-401K, pre-stock purchases then it is less than 10%.

I probably should know these things off hand, but since DH is a CPA he is the main money person here and he keeps up with all of this type of stuff.

Our mortgage payment does include our property taxes and home owners insurance premiums.

**changed4life** · 10-30-2007, 05:35 AM

Yes, monthly take home.

**Neeley** · 10-30-2007, 05:39 AM

Originally Posted by changed4life

Yes, monthly take home.

Thanks, I wasn't sure.

**TheRootedNomad** · 10-30-2007, 06:33 AM

Of our monthly take home:

~25% is the actual payment
~37.5% is what we usually send (10 out of the last 12 months)
~45% is the goal for the first 6 months of 2008

Can ya tell the morgage payoff is where we're at.

**annymoll** · 10-30-2007, 06:59 AM

Our home is paid in full. We do not have mortgage payments.

**JustJoy** · 10-30-2007, 07:35 AM

About 25% and that includes taxes, etc. Although we do pay an additional $255.00 a month in assocation fees

**getnrichslowly** · 10-30-2007, 07:54 AM

17% of our take home pay goes to the mortgage.

**jamie79** · 10-30-2007, 08:08 AM

25% but thats with paying a little extra

**quiltingmommy** · 10-30-2007, 08:19 AM

we currently pay over 31% of our take home pay for mort and taxes. 2ya before my husband left his extremely stressful, but much higher paying job, our mortgage was around 18% of our take home.