The monthly amount necessary to acquire/own a home should be no more than around 28-30% of gross income. Include in this payment the monthly anticipated loan principle and interest, homeowners insurance, real estate taxes and association fees. To calculate that amount divide your gross income by 12, then multiply by .28 or .30.
What Do You Need to Afford a Home?
by kramoltz@hotmail.com | May 24, 2017 | Home Buying, Mortgages + Lending | 0 comments