Buy: How Expensive Of A House Can I

Developed to ensure you aren't "house poor," this rule adds a savings requirement:

Your total monthly debt payments (housing costs + car loans, student loans, credit cards) should not exceed 36% of your gross monthly income. 3. The 30/30/3 Rule (Conservative Safety Net) how expensive of a house can i buy

To work backward from a comfortable monthly payment to a purchase price: Example: If you want to pay $2,400 a month: home price. Practical Steps to Calculate on Paper: What is the 30/30/3 Rule for Home Buying? Developed to ensure you aren't "house poor," this

The house price should not exceed three times your annual gross income. 4. The "Divide by 0.008" Rule (Quick Payment Estimate) how expensive of a house can i buy