Mortgage is 50% of take home pay reddit
- how much should your mortgage payment be
- how much should your mortgage payment be of your monthly income
- how much should your mortgage payment be compared to your income
- how much should your house payment be
What percentage of your income should your mortgage be dave ramsey...
Buying a house . . . it’s a huge life milestone and comes with a lot of emotions.
Mortgage 30 percent of take-home pay
(Excitement? Check. Slight panic? Also check!) But don’t worry. Our home affordability calculator can help you figure out how much you should spend on a house.
Did you give it a whirl?
40% of take-home pay for mortgage
As you can see from the results, how much house you can afford really depends on the relationship between your income and the mortgage—specifically, you should keep your monthly payment at or below 25% of your take-home pay.
(We’ll talk more about that later.)
If that number seems small, just know that I want you to buy a home that’s a blessing, not a burden. When you keep your housing payment below 25% of your take-home pay, that’s exactly what it will be.
Anything beyond 25%, and you risk not having enough margin in your budget every month—which risks putting your home into “burden” territory.
Now, the number you got from our calculator is very close to how much house you can afford, but you’ll need to factor
- how much would my mortgage payment be
- how much should my house payment be