Step 2 of 11
To figure out an affordable' home
price, this lesson follows the
typical guideline of most lenders.
Your affordable housing expense
is the lesser of two calculations.
Calculation 1: Housing expense
cannot be greater than 28% of
gross income. Calculate your
allowable monthly housing
expense as gross monthly
income x 0.28.
What is your allowable
monthly housing expense?
$1,743.92
$2,272.14
$2,622.70