I Buy | How Expensive Of A House Can

Spend no more than 30% of your gross monthly income on your mortgage payment.

Lenders use these percentages to determine your ratio. how expensive of a house can i buy

If you earn $100,000, your target home price is $300,000. Spend no more than 30% of your gross

The house price should not exceed three times your annual gross income. 4. The "Divide by 0.008" Rule (Quick Payment Estimate) your target home price is $300

Some experts stretch this to 4x or 5x income if you have zero debt and a large down payment. 2. The 28/36 Rule (Standard Lender Guideline)