How Much Income Do I Need


Answer for "How Much Income Do I Need ? "

Sarah Bonn
  Keller Williams


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.



Have a question or comment? We're here to help.

 
 
 
*** Your email address will remain confidential.
 
 

Search Real Estate FAQ


Related Real Estate FAQ

Related Real Estate Glossary Terms