How much of your monthly earnings goes towards your home loan?

I’ve been thinking about how much of our income we should put towards our mortgage. Some experts say it shouldn’t be more than 28% of what we make each month, but I’m curious about what others are doing.

My family spends about 15% of our monthly earnings on our home loan, and I’m interested to know if others are following the 28% recommendation or doing something different. Can you share your experience? Do you believe the 28% guideline fits everyone’s situation?

I’d love to hear your thoughts on managing mortgage expenses versus overall budgeting.

In my experience, the 28% rule is more of a guideline than a strict requirement. I currently allocate around 22% of my monthly income towards my mortgage, including property taxes and insurance. This arrangement allows me to comfortably manage other financial priorities while maintaining a stable housing expense. It’s important to regularly assess your overall budget and adjust as your income and expenses change, ensuring that your mortgage commitments support long-term financial stability without compromising other essential goals.

Hey there! I’m curious, have you considered other factors besides the 28% rule? Like, what about savings goals or unexpected expenses? I’m at about 18% for my mortgage, but I’m always wondering if I should adjust. How do you balance your housing costs with other financial priorities?

i spend around 20% on my mortgage, but it’s tough sometimes. the 28% rule doesn’t work for everyone. i’ve had to cut back on other stuff to make it work. it really depends on your situation and where you live. some months are tighter than others, but we manage. what about u guys?