How much of monthly income should go to mortgage?
28 percent Click to see full answer. Also asked, what percent of income should go toward mortgage? 28 Percent how much do I need to make for a 250k mortgage? To afford a house that costs $250,000 with a down payment of $50,000, you’d need to earn $43,430 per year before tax. The monthly mortgage…
28 percent Click to see full answer. Also asked, what percent of income should go toward mortgage? 28 Percent how much do I need to make for a 250k mortgage? To afford a house that costs $250,000 with a down payment of $50,000, you’d need to earn $43,430 per year before tax. The monthly mortgage payment would be $1,013. Salary needed for 250,000 dollar mortgage. Likewise, what is the 28 36 rule? The 28/36 rule states that a household should spend a maximum of 28% of its gross monthly income on total housing expenses; it should spend no more than 36% on total debt service, including housing and other debt such as car loans.How much should I spend on a house if I make 100k?Some experts suggest that you can afford a mortgage payment as high as 28% of your gross income. If true, a couple who earn a combined annual salary of $100,000 can afford a monthly payment of about $2,300/month. That could translate to a $450,000 loan, assuming a 4.5% 30-year fixed rate.
