Given:
monthly mortgage payment = 1,125.98
According to articles I read, a conservative mode income used for housing should be 25% of after-tax income or take home pay.
Dave Ramsey said "Your mortgage payment should not be more than 25 percent of your take-home pay and you should get a 15-year or less, fixed-rate mortgage.."
Using that as basis, computation will result to:
1,125.98/25% = 4,503.92 Monthly realized income
