Home Buying in Sayville>Question Details

Kendelaney30, Home Buyer in Sayville, NY

how much of your net monthly pay should go toward your mortgage,taxes,insurance?

Asked by Kendelaney30, Sayville, NY Thu Jan 17, 2013

I net about 7,000 monthly,

Help the community by answering this question:


To meet a bank's guideline, a mortgage payment can range from 31 to about 44% of your monthly gross income. But you should always do your own math and see what you feel comfortable with. You're more aware of your monthly expenses than a loan officer. See what they can approve you for and you make sure it fits your monthly budget.

Good luck.

Javier Meneses
NMLS #23130
Senior Loan Officer
Sterling National Bank
2 votes Thank Flag Link Thu Jan 17, 2013
There are other factors involved in order to answer such a question accordingly, such as debt, non debt spending habits and anticipated, etc.; therefore for a personalized answer visit with any licensed loan officer; be aware that a mortgage pre-approval letter is required in order to determine your price range and for any offers to be taken seriously.
0 votes Thank Flag Link Fri Jan 18, 2013
Ken, I will defer to the experts. Give Brian Tom of Cliffco Mortgage Bankers a call or email for a professional answer:



Brian will be able to provide accurate information for all of your questions.

When you are ready to househunt, Gladstone Group will be at your service.

0 votes Thank Flag Link Thu Jan 17, 2013
Ideally 25% or less of your net income in my opinion. Lenders will give conventional mortgage loans on 28% of your gross income.
0 votes Thank Flag Link Thu Jan 17, 2013
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