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Did I buy too much house

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  • #16
    Sounds pretty reasonable to me.

    Then again, when I bought my first house, it was about 4x my annual income, the down payment wiped out almost all of our cash, and we immediately went into credit card debt to buy appliances and go on our honeymoon.  

    In your shoes I *might* have gone 15 year to save the half a point or whatever.  Also I might have gone for a jumbo loan which can often be a slight savings to a conventional loan.  Making $350k+ you should be able to swing the payment either way.  Still, we're only talking about a half a percent or something so it's really no sweat.


    • #17
      It sounds like you are saving a ton elsewhere and bought a reasonable house.  Enjoy!


      • #18
        You're fine. Historically 4% is low and you'll be happy in three years for that rate. You are just beginning and already on your way. 300k and cash flow should be fine with that mortgage. I would leverage a heloc as your short term emergency plan---but NOT use it. It's there so you can sleep at night and pay off that remainder of loan then build your education savings and tax shelter retirement fund.

        Overreach is putting down less than twenty and not cash flow . You're good.