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How Much Income Do I Need


Answer for "How Much Income Do I Need ? "

Shelly Christ
  Better Homes & Gardens Real Estate Kansas City Homes

Mortgage companies use ratios to analyze your mortgage payment. The housing payment ratio (or front ratio) used in this calculation is 30%. The housing expense, or front ratio, compares your total mortgage payment to your monthly income. The total debt expense ratio (or back ratio) is 36%. This total debt expense, or back ratio, compares your total monthly obligations including your total mortgage payment to your monthly income.



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