Ask Question
7 July, 22:36

Using proportions if your monthly mortgage payment is 1,125.98, at least how much must your monthly realized income be to stay within acceptable housing expense limits

+1
Answers (1)
  1. 8 July, 02:29
    0
    Given:

    monthly mortgage payment = 1,125.98

    According to articles I read, a conservative mode income used for housing should be 25% of after-tax income or take home pay.

    Dave Ramsey said "Your mortgage payment should not be more than 25 percent of your take-home pay and you should get a 15-year or less, fixed-rate mortgage ... "

    Using that as basis, computation will result to:

    1,125.98/25% = 4,503.92 Monthly realized income
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Using proportions if your monthly mortgage payment is 1,125.98, at least how much must your monthly realized income be to stay within ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers