Nov 04
adminPersonal Finance mortgage, payment, Rule of Thumb
A rule of thumb for how much house you can afford is that you should try and keep the purchase price of the house less than 2.5 times your GROSS annual income. (Good luck in San Francisco, New York, or basically anywhere you’d want to live
Nov 04
adminPersonal Finance , mortgage, payment, Rule of Thumb
A rule of thumb for mortgage payments and mortgage size is that every $200,000 borrowed, your monthly mortgage payment will be $1,000. This rule of thumb is loosely based on a 5% mortgage rate and a 30-year mortgage.