I was using the mortgage calculator on bankrate.com to see how much I could afford to pay each month if I bought the house I'm currently looking at. I make between $2300-$2400 a month after taxes, insurace, 401k, etc. The mortgage amount would be around $600 per month (including homeowners insurance and property taxes) for a 30 year mortgage on a $76,000 loan.
If I make between $2300-$2400 per month, what's the most I should be paying for a mortgage? Whats the max percentage of my net income that should be going towards a mortgage?
Read more: How much of my net pay should my mortgage take up?
