Quote:
Originally Posted by Moe Bedard  With your mortgage, you need to be at 33%-40% and 45% in some cases will be accepted by mortgage servicers.
55-67% |
Hi. OK. I am still a little confused.
Lets say mortgage + int + taxes are $5000 /month
Equity line is around $700 /month
Let's say living expenses are around $5000 /month
What range of NET income would I need to make in order to be in the safe zone to possibly qualify?
I think approaching it this way would help me to understand a bit better.
Thank you for all your help!