02/03/2023
HOW TO QUALIFY for a HOUSING LOAN.....
🛒🏡🔍The 35% Rule
📌 Financial Advisors recommend that housing/condo budget should not exceed 35% of your Total Household Monthly Income.
📌This means that if you combine your family’s active and passive income, only 35% of that goes to your Housing/Condo Loan. Anything beyond that may not be the best option for you.
Here’s a Sample Computation:
Husband’s Monthly Income ............. P30,000
Wife’s Monthly Income .................... P30,000
☑P60,000 x 0.35 = P21,000
☑So this means it’s recommended that you get a house which has monthly of P21,000 or lower than this amount.
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