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Re: I found this ad the other day.

By: CTJ in 6TH POPE | Recommend this post (0)
Thu, 15 Feb 24 4:45 AM | 25 view(s)
Boardmark this board | 6th Edition Pope Board 		Msg. 50183 of 58519
(This msg. is a reply to 50181 by nacl01)
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I recall mortgage companies saying you could qualify for a mortgage 2-1/4 to 2-1/2 times your yearly gross. I think? But I think that went away during Carter when rates were 11-14%




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The above is a reply to the following message:
Re: I found this ad the other day.
By: nacl01 in 6TH POPE
Thu, 15 Feb 24 4:23 AM 		Msg. 50181 of 58519

Use to be monthly mortgage/rent should be 1/3 of your monthly gross pay.

The measure I use is that a year and a half out of college I bought a townhouse for 150% of my gross salary. Ten years later I bought a house, again for about 150% of my salary.

My daughter is four and a half years out of engineering school and homes in Dallas seem to start at around $450K. And, no, she is not making $300K..(Yet! Mr. Green )

nacl

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