(Closed) Are you housepoor?

posted 10 years ago in Home
Post # 3
2128 posts
Buzzing bee
  • Wedding: October 2011

I’m kind of confused about the house poor thing. Don’t you mean house rich, money poor?

My mortgage company wouldn’t let our monthly payment go above 30%, so how can the house be such a large portion of your income?

Post # 5
1163 posts
Bumble bee
  • Wedding: July 2011

Heh – we’re rentpoor, I guess!

Post # 6
4590 posts
Honey bee
  • Wedding: October 2009

At this point, we are, but I hope by the new years things won’t be this way anymore

@PinkMagnolia: I’m not sure how all companies work, but ours was about 40% of our income at the time, which has changed.  As long as we could afford our bills and the mortgage, and had good credit, they let us. We actually qualified for about $80k more than what we could afford!! But, i think that had to do with our great credit and the fact that I was still in school and didn’t have to put student loan repayment in the equation

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