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Reply to "What counts as "debt" when calculating what house I can afford?"
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[quote=Anonymous][quote=Anonymous]Thanks, PP. Part of the issue is that my spouse and I have different comfort levels on affordability. I lean more toward the 25-percent threshold, while he feels quite okay going above 30 percent. So if the calculator tells me I can afford X because my debt isn't so much, it doesn't take into consideration that I still have daycare expenses for a few more years. I just want to understand as much as possible.[/quote] You mean 25% of your monthly income to mortgage and associated costs or as a down payment? The general measure for most living situations is housing should be no more than 30% of your monthly take home. [/quote]
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