The Most Budget-Friendly Cities for Homeowners With a Mortgage
21 Apr 2020
City Awards & Recognitions
Financial experts generally recommend that no more than 28% of your total household income should be used for monthly mortgage payments.
Keeping your mortgage payment below that percentage usually leads to a more comfortable budget and allows you to either save your extra cash or spend it on things like a student loan payment or vacation.
As a homeowner, you are most likely to adhere to the 28% rule if you find a city where home values are affordable relative to the typical salaries in the area.
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