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).
For purpose of calculation, a 10% down payment is assumed, a loan consisting of principal and interest is allowed to be 25% of a familyâs income. On the date the area median income figures are published by HUD, we also verify the FNMA 60-day rate for a 30-year mortgage. A margin of .125 is added to the published rate.