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Originally Posted by thomas70
According to the PDF, if you had a $180,000 mortgage you'd be paying $972 a month in interest. And that's with an average 6.5% rate.
What about student loans, credit cards, car payments? You could hit MORE THAN $1200 real quick.
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But a $2,500 monthly income is only $30,000/year. Someone earning 30K isn't likely to have a 180K mortgage. Heck, I earn over 4 times that much and don't have anywhere near a 180K mortgage. That's more than our house cost.