Any one know what is apporiate monthly payment?

Question

my annually income is 37,000 how mortage should i pay in rent , mortage, ect..............

Answer 1

You can be conservative and live within your means.  You buy a house for $120,000.  Monthly payments are $8 per $1,000 that you borrow.  Borrow $100,000 and your payments are $800 (total).  

Or you can shoot for the moon.  The mortgage company might let you buy a $250,000 house and give you a super-low payment for 2 years.  How adventurous are you.

Answer 2

Do not become house poor.  No matter what you do, save at least 10% of your monthly gross income.

If you rent, I wouldn't spend more the 20% of my gross monthly income for rent.  This would be around 600 a month.

If you are paying a mortgage, I would go no more then 28% or about 850 a month.  This works out to a mortgage of about 100,000.  Then add your down payment to this for the price of the home./

Answer 3

it all depends on your monthly out go on other bills. no one can answer correctly with out this

Answer 4

Can you rephrase the question & maybe use spell check?