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How much mortgage can i afford?

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16th Feb 2010 by Daniel Cross, ChFC

The answer really depends on how much of your monthly income you want to tie up into a mortgage payment. A quick rule of thumb is that the mortgage shouldn't be greater than 30% of your monthly pay. Ideally, you want to aim lower than that to allow for some breathing room for other debts, loans, and other unexpected cash requirements.

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This answer is the subjective opinion of the writer and not of FinancialAdvisory.com



12th Feb 2010 In Finance 1 Answers | 446 Views
Subjects: mortgage,

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