Whichever type of income you have, you’ll need to give your lender documentation to support your claims. Here’s a list of commondocuments needed for a mortgage. How much of your income should go toward mortgage payments? When you’re determininghow much of your income should go toward you...
The debt-to-income ratio is a great way to find outhow much house you can afford, as well as the maximum mortgage payment you qualify for. Simply add up all your liabilities and your proposed mortgage payment plus taxes and insurance to see what type of loan you can take out. Obviously...
While their high income serves as a reward for their hard work, they often find themselves heavily taxed for their efforts. After working 12-hour-days for 20 consecutive days healing people, you might not be pleased with forking over more money to the government than you get to keep! Durin...
You might scoff at being left with only $3/month in cash flow. However, the family can certainly make adjustments to boost cash flow if needed. Further, I bet a good portion of American households who suddenly find themselves earning $400,000 a year would likely end up with negative cash...
I am 67 years old I have a tiny 401 k with a company I just started with. It is with fidelity . I only have my company match of 5 percent. The remainder is not invested. I needed to withdraw 500.00 but they said fidelity that 20bpercent would be taken out now as a tax penalty ...
I am married but my networth is around 3.6 million not counting my home, which here in the Bay Area is now valued at over 900 K, no mortgage (purchased for 121K). Who would have ever thought my house would ever be worth that much in a so-so school district, now valued higher ...
Interestingly, the first month after the house purchase felt eerily similar to the first month after I hadnegotiated my severance. I was full of uncertainty and trepidation about blowing up my career for freedom. When the final paycheck arrived, I felt like I was floating in the middle of an...