# What is your outstanding mortgage balance to household income ratio? **URL:** \ **Category:** In My Humble Opinion\ **Created:** [February 8, 2005, 12:47pm UTC](https://boards.straightdope.com/t/what-is-your-outstanding-mortgage-balance-to-household-income-ratio/288975 "2005-02-08T12:47:25Z")\ **Posts on this page:** 20\ **Page:** 1
**Author:** ![Emilio\_Lizardo](https://avatars.discourse-cdn.com/v4/letter/e/898d66/32.png) [@Emilio\_Lizardo](https://boards.straightdope.com/u/Emilio_Lizardo)\ **Post date:** [February 8, 2005, 12:47pm UTC](https://boards.straightdope.com/t/what-is-your-outstanding-mortgage-balance-to-household-income-ratio/288975/1 "2005-02-08T12:47:25Z")
Ours is about 1.17 now. We’ve owned the house for less than 3 years, but it was pretty cheap, we put 20% down, and we’ve gotten decent raises since then. ---
**Author:** ![Queen\_Tonya](https://avatars.discourse-cdn.com/v4/letter/q/4491bb/32.png) [@Queen\_Tonya](https://boards.straightdope.com/u/Queen_Tonya)\ **Post date:** [February 8, 2005, 12:58pm UTC](https://boards.straightdope.com/t/what-is-your-outstanding-mortgage-balance-to-household-income-ratio/288975/2 "2005-02-08T12:58:46Z")
Just under 1.5 here. I’ve owned it for seven years, but did refy and pull out some equity for major renovations. Is there a ‘healthy’ ratio we should be aiming for? ---
**Author:** ![Ravenman](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/ravenman/32/2929_2.png) [@Ravenman](https://boards.straightdope.com/u/Ravenman)\ **Post date:** [February 8, 2005, 1:57pm UTC](https://boards.straightdope.com/t/what-is-your-outstanding-mortgage-balance-to-household-income-ratio/288975/3 "2005-02-08T13:57:55Z")
About 3.56, ---
**Author:** ![Poonther](https://avatars.discourse-cdn.com/v4/letter/p/6a8cbe/32.png) [@Poonther](https://boards.straightdope.com/u/Poonther)\ **Post date:** [February 8, 2005, 2:12pm UTC](https://boards.straightdope.com/t/what-is-your-outstanding-mortgage-balance-to-household-income-ratio/288975/4 "2005-02-08T14:12:37Z")
**.60** We put 20% down and have a 15yr fixed plus houses in our market are still relatively cheap when compared to the major metro markets in the Northeast and California. ---
**Author:** ![Trunk](https://avatars.discourse-cdn.com/v4/letter/t/87869e/32.png) [@Trunk](https://boards.straightdope.com/u/Trunk)\ **Post date:** [February 8, 2005, 2:30pm UTC](https://boards.straightdope.com/t/what-is-your-outstanding-mortgage-balance-to-household-income-ratio/288975/5 "2005-02-08T14:30:09Z")
About .9 including the loan we took out to improve the kitchen. But my wife’s income is hard to estimate. It was a 30 year ARM that we shifted to a 15 year fixed. It has about 12-13 years left but I bet I can get through it in less than 10 if I want. ---
**Author:** ![Kent\_Clark](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/kent_clark/32/105_2.png) [@Kent\_Clark](https://boards.straightdope.com/u/Kent_Clark)\ **Post date:** [February 8, 2005, 2:50pm UTC](https://boards.straightdope.com/t/what-is-your-outstanding-mortgage-balance-to-household-income-ratio/288975/6 "2005-02-08T14:50:05Z")
About **.6** Of course, we’ve lived in the same house for 20 years and designed our refinancing around having the house paid off by the time Mrs. Kunilou is ready to retire in several years. ---
**Author:** ![RealityChuck](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/realitychuck/32/195_2.png) [@RealityChuck](https://boards.straightdope.com/u/RealityChuck)\ **Post date:** [February 8, 2005, 3:03pm UTC](https://boards.straightdope.com/t/what-is-your-outstanding-mortgage-balance-to-household-income-ratio/288975/7 "2005-02-08T15:03:37Z")
Zero. Just paid it off last month. 🙂 ---
**Author:** ![Wrenchslinger](https://avatars.discourse-cdn.com/v4/letter/w/94ad74/32.png) [@Wrenchslinger](https://boards.straightdope.com/u/Wrenchslinger)\ **Post date:** [February 8, 2005, 3:13pm UTC](https://boards.straightdope.com/t/what-is-your-outstanding-mortgage-balance-to-household-income-ratio/288975/8 "2005-02-08T15:13:29Z")
> [@RealityChuck](#): > > Zero. Just paid it off last month. 🙂 Nobody likes a bragger. Congratualtions. About 1.8 here. But we live in Manhattan and everything real estate plays by different rules here. Wrenchslinger ---
**Author:** ![Walkabout](https://avatars.discourse-cdn.com/v4/letter/w/46a35a/32.png) [@Walkabout](https://boards.straightdope.com/u/Walkabout)\ **Post date:** [February 8, 2005, 3:19pm UTC](https://boards.straightdope.com/t/what-is-your-outstanding-mortgage-balance-to-household-income-ratio/288975/9 "2005-02-08T15:19:18Z")
About 0.2. We have 3 or 4 years to go to get it paid off. I owe more than twice as much on my car than on my house. ---
**Author:** ![F.U.Shakespeare](https://avatars.discourse-cdn.com/v4/letter/f/aca169/32.png) [@F.U.Shakespeare](https://boards.straightdope.com/u/F.U.Shakespeare)\ **Post date:** [February 8, 2005, 3:49pm UTC](https://boards.straightdope.com/t/what-is-your-outstanding-mortgage-balance-to-household-income-ratio/288975/10 "2005-02-08T15:49:16Z")
0.6 I plan to pay it off in about five years. ---
**Author:** ![Uncommon\_Sense](https://avatars.discourse-cdn.com/v4/letter/u/f9ae1b/32.png) [@Uncommon\_Sense](https://boards.straightdope.com/u/Uncommon_Sense)\ **Post date:** [February 8, 2005, 4:15pm UTC](https://boards.straightdope.com/t/what-is-your-outstanding-mortgage-balance-to-household-income-ratio/288975/11 "2005-02-08T16:15:12Z")
Just bought the house two years ago with 20% down. Pay about $300 extra every month on the principle. The current ratio of balance verses income is about 2 to 1. ---
**Author:** ![Maeglin](https://avatars.discourse-cdn.com/v4/letter/m/8baadc/32.png) [@Maeglin](https://boards.straightdope.com/u/Maeglin)\ **Post date:** [February 8, 2005, 5:27pm UTC](https://boards.straightdope.com/t/what-is-your-outstanding-mortgage-balance-to-household-income-ratio/288975/12 "2005-02-08T17:27:06Z")
Like **Wrenchslinger** , I live in Manhattan. We bought the apartment in December, 20% down. Roughly speaking, we’re looking at a 3.8. ---
**Author:** ![SandyHook](https://avatars.discourse-cdn.com/v4/letter/s/dec6dc/32.png) [@SandyHook](https://boards.straightdope.com/u/SandyHook)\ **Post date:** [February 8, 2005, 5:47pm UTC](https://boards.straightdope.com/t/what-is-your-outstanding-mortgage-balance-to-household-income-ratio/288975/13 "2005-02-08T17:47:32Z")
1:1 Which, before looking at some of the other replies, I thought would allow some bragging on our superior position. ---
**Author:** ![down\_by\_law](https://avatars.discourse-cdn.com/v4/letter/d/65b543/32.png) [@down\_by\_law](https://boards.straightdope.com/u/down_by_law)\ **Post date:** [February 8, 2005, 6:39pm UTC](https://boards.straightdope.com/t/what-is-your-outstanding-mortgage-balance-to-household-income-ratio/288975/14 "2005-02-08T18:39:26Z")
i live alone, 5 years out of college, and i bought my house about 18 months ago. my ratio is about 1.4. that seems pretty reasonable to me, at least at his point in my life. in five years it could be under 1. ---
**Author:** ![Jonathan\_Chance](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/jonathan_chance/32/701_2.png) [@Jonathan\_Chance](https://boards.straightdope.com/u/Jonathan_Chance)\ **Post date:** [February 8, 2005, 6:47pm UTC](https://boards.straightdope.com/t/what-is-your-outstanding-mortgage-balance-to-household-income-ratio/288975/15 "2005-02-08T18:47:10Z")
0.5. One year into owning (a hair less) we’re about double the income on the balance. I love having a cheap mortgage. Of course, ya gotta live in Ohio. ---
**Author:** ![Lamar\_Mundane](https://avatars.discourse-cdn.com/v4/letter/l/85f322/32.png) [@Lamar\_Mundane](https://boards.straightdope.com/u/Lamar_Mundane)\ **Post date:** [February 8, 2005, 6:51pm UTC](https://boards.straightdope.com/t/what-is-your-outstanding-mortgage-balance-to-household-income-ratio/288975/16 "2005-02-08T18:51:38Z")
1:1 I have five years left on a seven year balloon, and I intend to have it paid off (or damn near) by the time the balloon payment comes due. ---
**Author:** ![Philster](https://avatars.discourse-cdn.com/v4/letter/p/13edae/32.png) [@Philster](https://boards.straightdope.com/u/Philster)\ **Post date:** [February 8, 2005, 7:17pm UTC](https://boards.straightdope.com/t/what-is-your-outstanding-mortgage-balance-to-household-income-ratio/288975/17 "2005-02-08T19:17:11Z")
We’re at around 1:1. Bought the home new about seven years ago, and about two years ago dropped down to a 15 year mtg and 4.8% rate. We have less than ten years left. ---
**Author:** ![furthur](https://avatars.discourse-cdn.com/v4/letter/f/ecccb3/32.png) [@furthur](https://boards.straightdope.com/u/furthur)\ **Post date:** [February 8, 2005, 7:29pm UTC](https://boards.straightdope.com/t/what-is-your-outstanding-mortgage-balance-to-household-income-ratio/288975/18 "2005-02-08T19:29:49Z")
We’re at 1.5. Looks like that puts us a little higher than average on the SD. We bought the house almost 9 years ago with about a 5% down payment, no points, 8.25% 30 year fixed. OPP $91,500. We’ve re-fi’ed twice and are now down to 5.75% with about a $75,000 balance. Interesting thread! Mrs. Furthur ---
**Author:** ![Giraffe](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/giraffe/32/129_2.png) [@Giraffe](https://boards.straightdope.com/u/Giraffe)\ **Post date:** [February 8, 2005, 7:43pm UTC](https://boards.straightdope.com/t/what-is-your-outstanding-mortgage-balance-to-household-income-ratio/288975/19 "2005-02-08T19:43:23Z")
Jesus. We’re saving for a house. If we save our asses off, I think we can get our ratio down a bit below 3.0, but it’ll take a few years. This thread makes me sad. Stupid Bay Area housing market… ---
**Author:** ![TroubleAgain](https://avatars.discourse-cdn.com/v4/letter/t/e480ec/32.png) [@TroubleAgain](https://boards.straightdope.com/u/TroubleAgain)\ **Post date:** [February 8, 2005, 7:56pm UTC](https://boards.straightdope.com/t/what-is-your-outstanding-mortgage-balance-to-household-income-ratio/288975/20 "2005-02-08T19:56:56Z")
1.09 and rapidly dwindling. We’re paying extra on principle each month. [Next page](https://boards.straightdope.com/t/what-is-your-outstanding-mortgage-balance-to-household-income-ratio/288975.md?page=2)