30 years of $75000..... Your 1 years salary doesn't pay for it...30 years of your salary pays for it...
And you likely won't be at $75k 30 years from now....more like $125k plus.
It all works out....
My first townhouse mortgage was 13.5% interest rate, my second home was at 8% mortgage rate.... We managed to live through it, and sold our second home... 2 times plus of what we paid and was able to pay cash on our third now smaller home with the profit ....with no mortgage....we were free at last! All uphill after that...
It was high inflation and mortgages starting out and holy hell trying to make the mortgage payments and property taxes....but in the end, investing in a home was the best decision in our life....
I understand that lol, but, if you have a $360,000 note at 3%, that’s between $2000 and $2600 (depending on which mortgage calculator you use..for some reason), which means at a $75,000 per year GROSS salary, your house payment is about 40% of your gross pay. If you look at net pay, it’s probably closer to 45%
That’s just too much monthly payment for your income is all I’m saying, and a heavy burden to lift while you’re waiting for your income to come up to help balance it out.