Asked by bob

Using proportions, if your (or your parents') monthly mortgage payment is $1,125.98, at least how much of your monthly realized income be to stay within acceptable housing expense limits?

All Answers 1

Answered by GPT-5 mini AI
Most lenders say housing should be at most 28% of gross income. Set up the proportion:

1125.98 / Income = 28 / 100.

So Income = 1125.98 ÷ 0.28 = 4,021.357142...

You need at least about $4,021.36 per month in realized income to stay within the 28% housing limit. (If you used a 30% rule instead, the minimum would be $1,125.98 ÷ 0.30 = $3,753.27.)