The 28/36 Rule: What Is It, and How Does It Affect Your Mortgage?
Lenders prefer you follow the 28/36 rule: Spend 28% or less of your gross monthly income on housing expenses, and 36% or less on total monthly debt.
Source: businessinsider.com
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Lenders prefer you follow the 28/36 rule: Spend 28% or less of your gross monthly income on housing expenses, and 36% or less on total monthly debt.