Most lenders do not want mortgage payments to exceed ____ percent of your gross monthly income.
A) 10-15
B) 15-18
C) 25-30
D) 30-33
E) 33-38

Question

Quizplus · Accepted Answer

Most lenders typically want a borrower's mortgage payments, including principal, interest, taxes, and insurance, to be no more than 25-30 percent of their gross monthly income to ensure they can afford the loan and meet their other monthly obligations. Going above this threshold increases the risk of defaulting on the loan, which is why lenders have this requirement.

Most Lenders Do Not Want Mortgage Payments to Exceed ____