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A standard rule of thumb for home mortgage lenders is that the monthly cost of buying and owning a home (including mortgage payments, property taxes, and homeowner's insurance) should not be more than 28% of a borrower's monthly gross income. Josh and Alicia Bennett combine to earn $4,100 a month. Their withholding is 15% of their pay. If lenders follow the 'rule of thumb,' the Bennett's maximum monthly housing expense would be

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A standard rule of thumb for home mortgage lenders is that the monthly cost of buying and owning a home (including mortgage payments, property taxes, and homeowner's insurance) should not be more than 28% of a borrower's monthly gross income. Josh and Alicia Bennett combine to earn $4,100 a month. Their withholding is 15% of their pay. If lenders follow the 'rule of thumb,' the Bennett's maximum monthly housing expense would be






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