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AleksandrR [38]
3 years ago
10

Using proportions if your monthly mortgage payment is 1,125.98, at least how much must your monthly realized income be to stay w

ithin acceptable housing expense limits
Mathematics
1 answer:
olya-2409 [2.1K]3 years ago
3 0
Given:
monthly mortgage payment = 1,125.98

According to articles I read, a conservative mode income used for housing should be 25% of after-tax income or take home pay.

Dave Ramsey said "Your mortgage payment should not be more than 25 percent of your take-home pay and you should get a 15-year or less, fixed-rate mortgage.."

Using that as basis, computation will result to:

1,125.98/25% = 4,503.92 Monthly realized income


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