| Desired Mortgage for New Home |
|
| Total Monthly Payments in Non-Mortgage Debt (i.e.
car, student loans, credit cards, etc). |
|
| Monthly Principal + Interest |
|
| Total Housing Payment (tax & insurance included) |
|
Your salary
must meet the following two conditions:
- Your gross (pre-taxes) monthly salary must be greater than 28% of
the sum of the monthly mortgage and monthly tax payments.
- Your gross (pre-taxes) monthly salary must be greater than 35% of
the sum of the monthly mortgage, monthly tax and other monthly debt
payments.
|
