Quote:
Originally Posted by SeeGeeWhy
I'm intrigued by this rule of thumb...
Would you say that this is a good rule for an individual to target for their own housing situation - i.e. go buy a house that is 3 - 4x your annual household income?
I know that in my case, I wouldn't be doing that so I am not sure where the 3 - 4x rule comes from.
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Well the 3-4 figure is generally what you will be approved for to get a mortgage. as you income rises to $100k or more though this is relaxed somewhat and you can qualify for more.