spending 38% of income just on house note?

Question

I'm being told I'm being ridiculous wanting to stay at 30% and spending up to 40% is now a normal thing because rates went up but pay never did- 
But y'all there's still bills, and car insurance to pay too!
What are y'all's thoughts?

Answer

Don't fall for that. I was told I could get a more expensive house but I held out for one that was at my budget that i was comfortable with paying every month. I ultimately got a loan that was 25% below what I was pre-approved for.

Answer

I'm in UK have a pretty good salary and spend like 40-45% of it on mortgage! This is London baby...

Answer

I pay 20% of monthly net income on mortgage

Answer

Only you know your budget. And can answer that. We pay a 1/3 of are income my sister almost pays half it really depends on what your goals are and how much your other bills are.

Answer

They'll tell you it should be 30% and preapprove you for a high mortgage... Bad road to go down. Don't ever let it get that high

Answer

We pay about 20% of our monthly income as well.

Answer

That seems high to me

Answer

We keep it at 25% of take home. We can't save and fund retirement and college and live comfortable with a house payment of 38%. We live by buying a house only 2× annual income. Because of this we will be able to pay off our house within 10 years!

Answer

We use about 30% of our income on our rent. 
If that's where you are comfortable and what works for your budget then stay there. It's your decision not anyone else's.

Answer

My dad bought their house for no more than he made in a year. Originally he was told you could get one that is what you'd make in a year and half. Those were different times but it can still be done.

spending 38% of income just on house note?

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