|
In response to
"so since st is smart. I am trying to look for a new place to live, and looking at prices etc, is there a % of your income that "
by
tRuMaN
|
as someone who just bought in November....its 40% of gross is what you are pre-assessed for....however....
|
based upon budgets and other expenses....I personally thought it was too high....I agree with Loosi that her amounts are something good to target.
The 40% is supposed to be all your mortgage payments, half of any condo fees or homeowners fees and include property taxes and heeting on a monthly level. If you dont have a a lot of outstanding debt, you can go a couple of points higher than 40% but be careful.
Thats what it is up here. Yours might be different because we can not deduct mortgage interest.
|