Mortgage | Imamother

amother

Tue, Aug 20 2024, 2:13 am

See poll.
Also, how much do you earn montly?

amother

Oldlace

Tue, Aug 20 2024, 2:26 am

3300
We make an amount that isn't much more bt we make do. It's just as expensive as renting a small space here

amother

Cadetblue

Tue, Aug 20 2024, 2:33 am

We bring in 21k ₪.
Mortgage is 4500₪

amother

Silver

Tue, Aug 20 2024, 5:47 am

Including taxes and insurance or without?
With- 2700, without 1600.

We bring home around 6k monthly, and we’re definitely struggling.

amother

Gardenia

Tue, Aug 20 2024, 7:54 am

Our mtg including taxes is 3600. That's for a small house that we bought recently. Our finances took a hit right after we bought and we are really struggling. Hashem is in charge and He has a lot of money. That's what keeps me going.

amother

Floralwhite ↓

Tue, Aug 20 2024, 8:46 am

$3200 per month
Make about $45k per month

amother

Denim ↓

Tue, Aug 20 2024, 9:17 am

I have been living in my home a LONG time so my mortgage is ridiculously low - well under $1000

So mortgage and property tax are well under $1000

If I bought the same place today the mortgage would be over $6000 per month and annual property tax would be $11,000 or about $900 pr month.

So cost would be $7000 per month versus well under $1000 per month.

ETA - When I originally bought the house, it represented a bit of a stretch as the cost of living there was probably 30% or so of my income which is the top of the amount recommended. But costs remained the same - income rose - and so eventually it became very inexpensive - not to mention the increased equity. However critical for my finances was that I didn't "upgrade" even when I could have theoretically afforded a larger place.

amother

Poinsettia

Tue, Aug 20 2024, 9:19 am

$6700 for mortgage. Monthly approx 20-25

amother

Lightgray

Tue, Aug 20 2024, 9:27 am

It’s the property tax that kills me

amother

Clover

Tue, Aug 20 2024, 9:35 am

Mortgage is around 3500 and we bring in around 25 k and are barely making it.

amother

Steelblue

Tue, Aug 20 2024, 9:37 am

Our actual mortgage is 1575 but with taxes and insurance it's 2300. We make 115k a year.
We bought our house in 2017.

amother

Mocha

Tue, Aug 20 2024, 9:37 am

Mortgage is about $4900.

Income is 52k/mth post taxes.

amother

Yellow

Tue, Aug 20 2024, 9:37 am

Mortgage is 2500 a month, we make about 8k a month. Very tight.

amother

Puce

Tue, Aug 20 2024, 9:49 am

Our mortgage is $4100 and we bring home about 12k a month. It’s very tight but we live in a place with high home prices and needed more space than a tiny rental

amother

Impatiens

Tue, Aug 20 2024, 9:57 am

Mortgage is $3800 bring in about 16,000 a month.
Pretty tight

amother

Snow

Tue, Aug 20 2024, 10:02 am

$2300 mortgage and income has been from $120k before COVID and it was enough to cover the bills to $160k after COVID and it was tight. Now we make around $30k a month so we can actually save.

amother

Azalea

Tue, Aug 20 2024, 10:03 am

amother Denim wrote:

Shouldn’t your property taxes be $900 a month no matter when you bought your house? Ours work on value of the home not the price paid.
And to answer the OP, we pay $2,800 mortgage and taxes and net pay is around $13k a month. With tuition it’s very tight.

amother

Celeste

Tue, Aug 20 2024, 10:04 am

amother Floralwhite wrote:

$3200 per month
Make about $45k per month

Lucky!

amother

↑ Denim

Tue, Aug 20 2024, 10:08 am

amother Azalea wrote:

In California where I live, your property tax is based on the purchase price of your home with very small increases available so there is a huge disparity depending on when your bought.

So my property tax is about $250 a month which is an increase over the years - I think it can be raised no more than 1% each year so increases are very gradual.

It was enacted years ago because people who had bought homes at a lower price were being forced to sell because property values around them escalated - e.g. older retired people who had lived in their homes for a long time or people who had lower incomes but bought before the neighborhood became more desirable or just that housing prices escalated.

There are some problems with the law. For example, the same justification for protecting people who reside in their home or condo shouldn't also keep property taxes for commercial buildings low.

If you sell your home you of course lose the advantage of the lower property tax since your property tax will be based on the purchase price of your new home. There is an exemption for older people who sell which enables someone to sell their home and downsize and not be hit with a higher property tax because they wanted to get a smaller retirement condo for example.

Of course the double whammy for many of the affluent states like New York, California, New Jersey and Connecticut is that the prior administration capped the deduction for all state taxes - real estate and income at $10,000 which impacted many middle class people since property taxes and income taxes generally exceed those amounts even among the middle class.

amother

Electricblue

Tue, Aug 20 2024, 10:12 am

3,300
Bring home after taxes approximately 10-12,000 depending on per diem cases, yomtov, billing in on time and so on
I work full time 2 jobs one more flexible that I can put in hours during day or night as long as get it done all is good. Husband works as Rebbi and in kollel second seder