If everyone went with < 3X income, half the sales from this century wouldn't have happened!
Most calculators allow a total debt-to-income ratio of no more than 36 percent. And home payment to-income ratio of 28% for our conservative estimate, and 33 percent for the aggressive one. In CA, 40% and 50% ratios were routinely used and that's what helped cause home prices to double from 2001 to 2005, not the common notion that QCOM employees were completely responsible for jump.
If everyone went with < 3X income, half the sales from this century wouldn't have happened!
Most calculators allow a total debt-to-income ratio of no more than 36 percent. And home payment to-income ratio of 28% for our conservative estimate, and 33 percent for the aggressive one. In CA, 40% and 50% ratios were routinely used and that's what helped cause home prices to double from 2001 to 2005, not the common notion that QCOM employees were completely responsible for jump.
