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Originally Posted by PerDev  How many percentage of your reqular income you can give for your House loan.. Would it be 20%, 30% or more ? |
A rule many lenders use in determining if a borrower qualify for a loan is that usually a loan can be considered if the amount to be borrowed is equal to or less than two or two and one half times the annual income of the borrower.
If you take this amount and calculate a payment you can determine what percentage of your income the house payment equals.