The 28/36 rule can help you estimate how much home you can afford.
28% of your gross monthly income is the maximum lenders want to see going toward housing costs. That includes principal, interest, taxes and insurance.
36% is the ceiling for all your monthly debt payments combined, including your new mortgage.
Know where you stand before you make an offer.
SEARCH: “28/36 rule” to find an online calculator.
Courtesy of Florida Realtors | Source: Bankrate
Larry Brzostek, CRS, CLHMS, ABR, RGL
REMAX Alliance Group, Sarasota, FL