Use the 28/36 Rule to Decide Whether You Can Afford a Mortgage
by Mike Winters from Lifehacker on (#5N8TY)
Before you commit to a mortgage, consider the 28/36 rule to make sure you're not getting in over your head. How does the rule work? It's a common-sense way of measuring your debt load before you apply, and most lenders already use it to approve loans, so you might as well run the numbers to see how you stack up....