You have a mortgage payment of $1,248.90/month. Using proportions, what is the minimum amount you must have in

Question

You have a mortgage payment of $1,248.90/month. Using proportions, what is the minimum amount you must have in realized income per month to keep your housing expense in the acceptable range? Round to the nearest penny.

GPT-5 mini · Answer

Most lenders use 28% as the maximum housing expense ratio. So set 1,248.90 = 0.28 × income.

Income = 1,248.90 ÷ 0.28 = 4,460.357142...

Rounded to the nearest penny: $4,460.36 per month.

You have a mortgage payment of $1,248.90/month. Using proportions, what is the minimum amount you must have in realized income per month to keep your housing expense in the acceptable range? Round to the nearest penny.

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