What percentage of your income should your mortgage be dave ramsey

Buying a house .

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I make $70,000 a year how much house can i afford

40% of take-home pay for mortgage

. . it’s a huge life milestone and comes with a lot of emotions. (Excitement? Check.

How much should mortgage be of gross income

Slight panic? Also check!) But don’t worry. Our home affordability calculator can help you figure out how much you should spend on a house.

Did you give it a whirl? As you can see from the results, how much house you can afford really depends on the relationship between your income and the mortgage—specifically, you should keep your monthly payment at or below 25% of your take-home pay.

I make $70,000 a year how much house can i afford

(We’ll talk more about that later.)

If that number seems small, just know that I want you to buy a home that’s a blessing, not a burden. When you keep your housing payment below 25% of your take-home pay, that’s exactly what it will be.

Anything beyond 25%, and you risk not having enough margin in your budget every month—which risks putting your home into “burden” territory.

Now, the number you got from our calculator is very close to how much house you can afford, but you’ll need to factor

how much money should be spent on mortgage

how much of your budget should go to mortgage