How much of my income should pay for a mortgage?

Answer Most lenders suggest that a borrower have no more than 25 percent of his pre-tax income dedicated to his mortgage payment each month. However, a borrower can qualify for a mortgage payment of up to... Read More »

Top Q&A For: How much of my income should pay for a mortgage

How to Calculate Rental Income From Income Tax Return for Mortgage?

Each year taxpayers must to report their rental income on their taxes. Often if a person is trying to obtain a mortgage, he will need to provide the rental income to the lender. The taxpayer can si... Read More »

How much income do I need to get a mortgage?

Lenders can be reluctant to offer a mortgage that is more than 2.5 times your annual income. Lenders also take into account your monthly or annual debts and other financial obligations.References:... Read More »

How much of an income should go to the mortgage?

Most lenders prefer that your mortgage not take up more than 28 percent of your income for conventional mortgages or 29 percent for FHA mortgage, according to Bankrate. However, some lenders will a... Read More »

How much of your monthly income should your mortgage be?

Your monthly mortgage payment should not be more than 28 percent of your pretax income for conventional mortgage or 29 percent for an FHA mortgage. Lenders also want your total debt payments, inclu... Read More »