Originally Posted by
bonvoyage
the math doesn’t include interest or escrow payments for insurance and tax. Sure, just the principal is under $3k. With interest and escrow payments, it’s more like $5k
https://www.nerdwallet.com/mortgages...age-calculator
Flower Mound is roughly 2.1%/home value for tax and Texas is starting to get pricey on home owners insurance. A $550k home with 15% down is easily $5k a month
With 5k to spare monthly you wouldn’t be saving much, but you shouldn’t be taking on debt either if you make any effort to budget—depending on your spending habits you’d probably be “house poor” until the flying picked back up.
A 550k house is affordable for a 3rd yr FO—especially with how cheap everything else is in DFW.