can we afford it?

[noppenbd]

How long have you been making $440K? I find it amazing that you do not have more in savings. You should easily have $200-250K a year in surplus, yet you have only $40K in emergency funds? I think you need to look at your spending before buying a home.

[MiikeB]

sorry guys, it was a typo we owe 90k on our current home, I am a little nervous about a large mortgage, I wouldnt buy a home more than 700k. We really like a home with list price 780k clearly it wont sell for that but assuming we buy it for 700k with 150k down, the taxes are 14k, what would our monthly payment be approximately, our net is about 15k a month

Net 15k a month is not 440k a year...

[LivingAlmostLarge]

Maybe they save a lot and lots of child support or alimony?

[beenster]

1. We just finished paying off student loans and miscellaneous debt of $350k over the last 3 yrs thats why the EF is so small

2. We have 250k in retirement

3. Out incomes are very stable,most is salary our bonuses are only about 30k/yr

4. Actually after maxing out retirement, and putting a little extra withholding (2k i believe) for taxes (we are evil rich people) we take home about 15k, we comfortably save 5-7k a month

[thekid]

1. We just finished paying off student loans and miscellaneous debt of $350k over the last 3 yrs thats why the EF is so small

2. We have 250k in retirement

3. Out incomes are very stable,most is salary our bonuses are only about 30k/yr

4. Actually after maxing out retirement, and putting a little extra withholding (2k i believe) for taxes (we are evil rich people) we take home about 15k, we comfortably save 5-7k a month

Well, that's great.

What do you do for a living, if I may ask?

[snafu]

I thought average wage earners are typically approved to buy a home worth three times their annual income. To avoid paying so much interest you could always make a balloon payment annually or add a rider allowing double-up payments.