Submitted by Environmental_Bar514 t3_113u1yb in personalfinance
$750k house loan with $150k down payment. No car payments or debts. Monthly bills (food,utilities,etc.) $2.5k/mo. Estimated mortgage including home insurance and property tax is $4.5k/mo.
Income: ~$9.5k/month Net Income. 3 days/wk of work. There is a lot of OT opportunity in my career where I can easily add ~$1k - $2.5k after tax income per wk. for 1-2 days OT.
~$2.5k remaining for retirement, college fund and vacation expenses.
Credit score: >800 Extra Cash: 6 months emergency fund. Another $10k cash for move-in expenses.
Edit: Sorry I meant $9.5k/month income.
Edit 2: I appreciate everyone’s input. We live in California. I really wanted to follow the 30% or less rule but decent housing in a good school district for family of 5 is really expensive in my area especially with the current interest rates.
I work as a staff nurse in California. Salary is 2x here compared to other states. It’s a 12hour shift/day. My salary is mid range compared to my coworkers with more experience.