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re: Homebuyers are now spending 40% of their gross income on mortgage and interest costs
Posted on 7/22/23 at 10:03 am to stout
Posted on 7/22/23 at 10:03 am to stout
This may be a dumb question, but doesn’t a debt to income ratio take all debt payments into account? Not just mortgage?
40% is still very high for gross, but it makes more sense if it’s total debt (cars, loans, CCs, house).
40% is still very high for gross, but it makes more sense if it’s total debt (cars, loans, CCs, house).
1
Posted on 7/22/23 at 10:23 am to Evil Little Thing
quote:
This may be a dumb question, but doesn’t a debt to income ratio take all debt payments into account? Not just mortgage?
Correct
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