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Many conservative consumer advocates said you should not pay more than 25% of your TAKE-HOME PAY on a mortgage payment A. True B. False
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Many conservative consumer advocates said you should not pay more than 25% of your TAKE-HOME PAY on a mortgage payment

A. True
B. False

User Dentuzhik
by
5.2k points

1 Answer

1 vote

Answer:

True

Step-by-step explanation:

There is a general consensus that one has to be very conservative and avoid spending more than 35 percent of pretax income on home insurance payment, property tax, and mortgage. However the conservative model clearly suggests that mortgage payment should not exceed 25 percent of take-home pay and any mortgage loan should not exceed a 15 year tenure.

User Chrisbajorin
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5.6k points
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