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Ber [7]
3 years ago
13

what is usually the highest percentage of family income that lenders allow for monthly mortgage payments

Business
1 answer:
timama [110]3 years ago
4 0
The highest percentage of family income that lenders allow for monthly mortgage payments usually is 36%. This is an example of debt-to-income ratio usage to determine the portion of debt taken by an individual and comparing it with his/her income. The ratio can be obtained by dividing the total debt and the total income of that individual.
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