How Much Should You Spend On Your First House? Most mortgage lenders determine how much house you can afford by using the 28 percent rule. This “rule” says that you shouldn’t spend more than 28% of your monthly income, before taxes, on your mortgage. Individuals and households have other expenses to factor in this calculation. Debts and expenses like student loans, car payments, property tax, and PMI all factor into this balance. It’s all about figuring out how much house you comfortably afford because you don’t want buyer’s remorse to be a feature of your new home. Call Amber Cyman now to talk about selling your home. Amber Cyman Real Estate 511 E Front St Suite 102 Traverse City, MI 49686 231-944-9979 https://ambercyman.com https://www.google.com/maps?cid=6707706476642726282
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