Thinking about buying a home and wondering how much you can afford? 🤔💡 Allow me to introduce you to the classic 28/36 rule.
This tool is a gem 💎for figuring out your mortgage budget.
Spend no more than 28% of your gross monthly income on housing, and keep total debt (yup, including that mortgage, credit cards, car loans, or student loans) under 36% of your income.
For example, if your monthly pre-tax monthly income is $5,500 and you’ve got $500 in other debts, your monthly mortgage should stay at or below $1,480.
It’s a fantastic guideline, but remember, every financial situation is unique. Always take a big picture look at your finances when planning for your dream home.
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Today is a good day to get started, let’s embark on this exciting journey together. Reach out to Ashe County Realty today, and let our experienced team guide you through the real estate market. Whether it’s a cozy cabin in the mountains or a charming home in town, we will help you find the perfect place to call your own.
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www.ashecountyrealty.com