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re: Income to house cost ratio: Assuming pretax income, what is the marginal ratio?
Posted on 6/3/15 at 2:30 pm to kjacksonp
Posted on 6/3/15 at 2:30 pm to kjacksonp
most banks are going to go by 25%-30%
whether or not that is high, depends on your situation
when we first bought our house, it was in the 30% range, but we bought our house at the beginning of our earning potential with the plan to stay in the house long term
5 years later, that % has reduced by almost half
whether or not that is high, depends on your situation
when we first bought our house, it was in the 30% range, but we bought our house at the beginning of our earning potential with the plan to stay in the house long term
5 years later, that % has reduced by almost half
1
Posted on 6/3/15 at 2:54 pm to Salmon
Wait, so you are saying if someone makes 100k a year, a bank will pre-approve them for a house that costs 400k?
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