“Unlock the secret to a solid mortgage with the 28/36 rule! 🏡💡
1. **Calculate the 28%**: Your monthly mortgage payment shouldn’t exceed 28% of your income. Example: $5,000 per month -> $1,400.
2. **Assess your total debts**: Ensure your debts, including the mortgage, don’t exceed 36%. Example: $5,000 per month -> $1,800.
3. **Practical example**: If you earn $5,000, your mortgage payment shouldn’t go over $1,400, and total debts, $1,800.
Remember, some lenders allow up to 55%. Find your financial balance for a successful mortgage journey! 💰✨”
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