Okay and just a few more questions...when I figure out how much I can afford in a mortgage, do I multiply my monthly gross or net income by .36?
At $70,000 my gross monthly is about: $5,833
At $70,000 my net monthly is about: $4,083
(I assumed 30% for taxes and other stuff taken out of my pay to get my net income)
So, do I multiply .36 by $5,833 or $4,083.
Also, should this total that I get after I multiply by .36 include the mortgage, principal, interest and insurance as well?
Thanks so much...I have really been wondering about this one...
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