What percentage of your net income should go towards a home mortgage?

Lets say you have 00 coming in per month, how much is a safe amount to spend on a mortgage, while still saving some for car payments, other loans, insurance, groceries, emergencies, etc? My dad said a 1/4 of your net income is a good idea per month to spend on your home payments…agree? disagree?

Related posts:

1. What percentage of your net income should go towards a home mortgage?
2. Anyone ever do a Mortgage Modification? How was your result?
3. Where to get a VA Home loan mortgage for low income but good credit, cautch 22, MINNESOTA?
4. What income are they looking for for the “making home affordable” program.?
5. First Time Home Buyer Program 2 - Tax Credit & FHA Mortgage Loan Mar09 - Median Income Family

Tags: home payments, loans, mortgage

 Print This Post Posted in Home Mortgage