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).
Using traditional mortgage underwriting rules, your income will qualify you for a roughly $220K mortgage. That presumes a 35% DTI, no PMI (20% down), about $300/mo for taxes and insurance, all at 4.5% on a 30 year.ating Newest Oldest. Rule of thumb is that you can afford a house that is about 3 times your gross annual income. Some people qualify for more based on their individual situation (mine is 4x). For a $300,000 mortgage, you need a gross income of at least $100,000.