Actually, it varies from lender to lender. As a general rule, they want your mortgage payment to be no more than 28% of your pre-taxed monthly income. At the same time, your mortgage plus your other installment loans (car, student loans, etc.) should not be more than 36% of your pre-taxed income. But, like I said, it varies from lender to lender. I've seen ratios anywhere from 28/36 to 40/50. Click here to see what ratios various lenders are using in your area. Smitty I never go to a doctor whose office plants have died!
