One of the things that struck me a couple of years ago when I was buying a home, was that different mortgage brokers and lenders told me how much I could afford. After looking at my income and my debt load, they came up with a number that would get me into a bigger (and presumably better) home. This number was invariably between 30% and 36% of my monthly income. One broker came back and told me I qualified for a mortgage payment of 40% of my monthly income!Clearly, this is not something I was comfortable with. In fact, you [...]Post from:
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Can You Afford That Mortgage Payment?
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