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Help 3

NotSoSmart  Oct 15, 2018
 #1
avatar+90968 
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What is the "rule of housing??"

 

 

cool cool cool

CPhill  Oct 15, 2018
 #2
avatar+3636 
0

umm it's 

A good rule of thumb for determining how much house you can afford is the 25% rule of housing. This guiding principal advises that all your housing-related expenses should not exceed more 25% of your gross income.

NotSoSmart  Oct 15, 2018
 #3
avatar+90968 
+2

NSS......We need to divide yearly income by 12 to get the monthly income

 

29000/ 12   = $2416.66

 

The  montly housing budget is 25%  of this = 

 

2416.66 * .25  =  $604.17

 

 

cool cool cool

CPhill  Oct 15, 2018

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