Question
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.
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
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12th Feb 2010 In Finance
1 Answers | 136 Views
Subjects: mortgage,