What percentage of income goes towards a mortgage?

[ilzhoefer]

I am reading a lot online about 25%-35% of your monthly income can go to your monthly mortgage/home payments.

I realize this is a generalization, but is this take home pay or gross income?

Any help is appreciated.

[Anonymous]

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@ilzhoefer wrote:

I am reading a lot online about 25%-35% of your monthly income can go to your monthly mortgage/home payments.

I realize this is a generalization, but is this take home pay or gross income?

Any help is appreciated.

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Your gross income is calculated to get the DTI which must be no greater than 43% .

[Anonymous]

Usually no more than 28% of your gross income (before taxes) when just considering the mortgage.  Usually no more than 43% (most lenders will want to see less) of your gross income when considering all monthly debt payments (e.g. mortage, auto, student loans, etc).

[DallasLoanGuy]

31/43 are conservative numbers......

31 = pmt/income

43 = pmt+mother debt payments/income

we regularly go to 45% on conventional and 50% on fha..... so it depends on creditworthiness