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What percentage of your net income should go towards a home mortgage?

emilie asked:

Lets say you have $5000 coming in per month, how much is a safe amount to spend on a mortgage, while still saving some for car payments, other loans, insurance, groceries, emergencies, etc? My dad said a 1/4 of your net income is a good idea per month to spend on your home payments…agree? disagree?
Asked on: 2010-05-03 05:42:06

1 Comment

  1. ninfa says:

    Your father is exactly correct! Listen to him! The people on here that recommend, 33% as a mortgage payment are also the ones who have contributed to the mortgage crisis in this country today! 33% of your net income is too much. It doesn’t leave you any buffer. If you are looking for the best home mortgage rates or want to reduce your mortgage loan payments, check out this site

    Here you can get free quotes from all available companies in your area. its the best way to find an affordable payment with a reliable company.

    Hope this help,

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