In general, lenders like to
see housing expenses (principal, interest, property taxes, mortgage insurance, HOA fees, etc.) kept to 28 percent or less of your gross (before tax) income, and they prefer that all of your bills — home loans plus car payments, credit cards, etc., total no more than 38 percent of your gross income.
It's very common to
see your housing expenses rise once you move from renting to homeownership.
Conventional lenders like to
see your housing expense ratio come in at no higher than 28 % of gross monthly income.
Not exact matches
* $ 100k deposit on a $ 500k apartment (80 % LVR) * $ 80k deposit on another $ 400k apartment (80 % LVR) * $ 30k in stocks (
see above for allocation) * $ 24k three months emergency fund placed in mortgage offset account (3 months of two mortgage repayments plus strate levies for both properties $ 18k, 3 mths living
expenses $ 6k) * $ 16k left - > save that for building up another deposit / down payment for either a studio / 1or2 br apartment or a
house
Lets
see, he has a
house that is paid for (by us) transportation that is paid for (by us), food that is paid for (by us), trips and vacations that somehow find their way on the
expense report that is paid for (by us), His healthcare that is paid for (by us), a annual pension that will be paid for the rest of his life (by us).
I am a TESTOSTERONE JUNKIE I will eat it at every chance that I can -LRB--LRB-(NOTE I WILL ADOPT THE BOY OF MY CHOICE)-RRB--RRB- AND SEND HIM TO COLLAGE AT THE GOV.
EXPENSES YO
SEE I AN A US NAVY VETERAN I WILL LOVE YO PROTECT YOU CARE FOR YOU RUB YOU CARESS YOU READ YOU
HOUSE YOU IN...
A scene where Clary goes «Macgyver» on a demon in her
house and shields herself from an explosion in a fridge is terrible but hilarious, and a moment where she has to dress like a prostitute to go and
see warlock who wears no pants is worth a giggle at the film's
expense.
Aside from the fact that it's pretty comprehensive — it allows you to enter several dozen
expense items in eight broad spending categories — the tool also helps you
see how much of your spending goes toward essentials (food,
housing, health care, etc.) vs. discretionary expenditures (entertainment, dining out, charitable donations, etc.).
By playing with the income, down payment,
expenses, and loan information, you can
see how these factors influence what you can afford for
housing.
Go to an interactive retirement budget worksheet and divide your estimated retirement
expenses into two categories — essential outlays (
housing, transportation, insurance, etc.) and discretionary expenditures (travel, entertainment, etc.) Tally each category, and then
see how your essential
expenses stack up versus what you'll get from Social Security (and a pension, if you receive one).
If after analyzing your financial situation you do not
see room in your budget for your car payment, consider starting to save by cutting back and check out these tips on how to cut back on
expenses like
housing and utilities, food, personal insurance and retirement, health care, and clothing and services.
Lower living
expenses, more options in a crisis, less debt, paying off your mortgage sooner, an extra million dollars or so — can you
see how financial freedom starts with a lower
house payment?
Add in the fact that you'll be earning these credits free of
housing and meal
expenses and it's easy to
see the value that community colleges can offer in advancing you through your degree (though yes, of course you'll be paying to cover the costs of commuting).
If you look at your own
expenses, you will
see that
housing and transportation take a good chunk of your income.
round 2 Now... add up the third column and
see how that monthly
expense amount on
housing compares against your current monthly budget.
Talk to licensed mortgage companies now to
see if today's 30 - year rates actually do save you money by reducing your
housing expenses thus justifying the refinance process.
We like to
see the total drugs, supplies, lab
expense (in -
house and out), office
expense, food, and similar items in the approximate 25 % of gross range.
You'll have additional mortgage and utility payments, property taxes and household
expenses while the
house sits waiting for a buyer who can
see past the seller's life.
Despite its small size, The Gove Group Real Estate in Stratham, N.H.,
saw in -
house marketing production as an
expense it was willing to shoulder because the service created a way for associates to compete against the big guns in the market.
Success Habits Keep a quarterly finance sheet to keep track of Net Worth, Assets, Liabilities, Income, &
Expenses List out yearly goals for family, finance, health, learning and track each week Make sure to do things daily to get closer to goals Dave Ramsey Lifestyles Unlimited REIs for networking Checklists Books Millionaire Real Estate Investor — Gary Keller Rich Dad Poor Dad — Robert Kiyosaki The Complete Guide to Buying and Selling Apartments — Steve Berges 48 Days to the Work You Love — Dan Miller What Color is Your Parachute — Richard Bolles The Slightest Edge — Jeff Olson Compound Effect — Darren Hardy Quotes «Leverage is key to wealth» — In regards to money, time, knowledge «Money is on the other side of fear» «Most people overestimate what can be done in the short term and underestimate what can be done in the long term» «If you give a
house a cookie...» «What gets measured gets done» «Spectacular achievement is always preceded by spectacular preparation» «Those who say it can't be done should get out of the way of those doing it» «Go as far as you can
see, once you get there, you will
see farther» «Play the game of money to win, don't play not to lose» «Don't quit when you are tired, quit when you are done» «Make sure your ladder to success is on the correct wall»
PITI — the monthly
housing expense, expressed as principal, interest, taxes, and insurance (
see: mortgage payment).