Thread: Mortgage advice
View Single Post
  #18  
Old 05-27-2015, 07:47 AM
jplifeleadership jplifeleadership is offline
Junior Member
 
Join Date: May 2015
Posts: 16
Default Re: Mortgage advice

A lot of people use the "Tripling" rule. Where your annual household income x 3 is what house you can afford. However! Long term, and security wise, you are much better off only "doubling".
- Therefore, if you're annual household income is 120,000 typically people purchase homes for 360,000+. However, based on this principle you should not exceed 240,000.
Just a tip I've seen help quite a few people.
Reply With Quote