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Posted on 9/27/11 at 11:41 am to Tigerstudent08
quote:
Does anyone have an idea on what the max someone could afford if they were making ~90K/year and had no debt and around $90k to put down
you need to look at it monthly. I've always heard you should spend about 25% of you take home income on your mortgage. I would keep it under 30% for sure.
Posted on 9/27/11 at 11:44 am to Tigerstudent08
quote:
Does anyone have an idea on what the max someone could afford if they were making ~90K/year
quick rule of thumb I have always heard is 3x your yearly salary.
Posted on 9/27/11 at 3:19 pm to Tigerstudent08
quote:
Does anyone have an idea on what the max someone could afford if they were making ~90K/year and had no debt and around $90k to put down
$90,000 / 12 = $7500 month before taxes. $7500 * 36% (.36) = $2700. $2700 - all other monthly expenses is what you should look to spend on a monthly mortgage.
This post was edited on 9/27/11 at 3:20 pm
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