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Can you buy a house with 40k salary?

Kenyans247 / Kenyans247 / General / Properties / Can you buy a house with 40k salary?

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Can you buy a house with 40k salary? by Kenyans247(1): Mon 28, December, 2020 12:29pm
The maximum amount for monthly mortgage-related payments at 28% of gross income is $933. ($40,000 times 0.28 equals $11,200, and $11,200 divided by 12 months equals $933.33.) Furthermore, the lender says the total debt payments each month should not exceed 36%, which comes to $1,200.

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