LogFAQs > #891757201

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Topic	Any finance people here? Whats the rule of thumb on how much to spend on rent?
C7D 12/07/17 12:25:14 PM #13:	Squall28 posted... Romulox28 posted... depends where you live & your income honestly. the whole X% thing is kind of dumb because someone in Arkansas is not going to be putting the same amount towards rent as someone in NYC Agreed. Stuff isn't magically going to be cheaper because you make less, and you shouldn't be spending more just because you make more. This is true. However their are certain affordability metrics that are proposed by people such as loan officers that I presented in my post. Usually you have to follow the 31/43 rule if you are doing to get a government backed loan. <cite>C7D posted [p:891757201] in Any financ... [t:76071949]...</cite> <quote><cite>Squall28 posted...</cite> <quote><cite>Romulox28 posted...</cite> <quote>depends where you live & your income honestly. the whole X% thing is kind of dumb because someone in Arkansas is not going to be putting the same amount towards rent as someone in NYC</quote> Agreed. Stuff isn't magically going to be cheaper because you make less, and you shouldn't be spending more just because you make more.</quote> This is true. However their are certain affordability metrics that are proposed by people such as loan officers that I presented in my post. Usually you have to follow the 31/43 rule if you are doing to get a government backed loan.</quote> ... Copied to Clipboard!
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