Bar graphs are used to compare things between different groups or to track changes over time. However, when trying to measure change over time, bar graphs are best when the changes are larger. . . . an Area Graph. Area graphs are very similar to line graphs.
The typical bank limit on monthly mortgage payments is about 28 percent of your gross monthly income. Therefore, the bank thinks you can devote up to 28 percent of your household income to your mortgage payment and expenses (including taxes, insurance and association dues).
Nerdy insight. Rule of thumb: 36% of your pre-tax income should go to pay debt with no more than 28% going to your mortgage payment - leaving 8% for other debts like student loans and car loans. Determine how much house you can afford using our home affordability calculator. Get started.