The lender to grant a loan to a family, for house purchase, it's a bit 'accounts to the members in your pocket.
But it's up to the latter, verify that the payment rate is really good.
Experts say that the monthly payment should not exceed 25-35% of total income.
I'd be a bit 'below, the 15-20%.
Already, because if you really want to borrow to buy a house, we must consider the conditions of future income and current, even less favorable to the hypothesis.
Here are some:
- job loss of one component;
- Lowering the salary for other reasons;
- increase in interest rates in the case of adjustable rate mortgage.
Frankly, for me, wrong all those who committed the salary of one of the two components!!!
Also because, ultimately, you can always resort to rent, maybe looking for homeowners, willing to pay the rent compared to a longer contract.
Not the doctor prescribes to borrow for the next 20-25 years or more if you do not feel, even as we become the beneficial owners (Because mortgage) only after repaying the debt (capital + interests).
Alex Gaetani
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