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Are there any good rule of thumbs for how much money, relative to income, max to borrow for auto loans and mortgages?
Are there any good rule of thumbs for how much money, relative to income, max to borrow for auto loans and mortgages? Just this. Is there some multiple of income that is recommended as the max for auto loans and mortgages? Obviously if so they wouldn’t be the same multiple, but I’m curious of both. Like 0.5x annual income max for auto loan or 4x annual income max for mortgage? Ie, just pulling these numbers out of my ass at the moment. And presumably if you’re ...
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