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Home loan repayments to income ratio
Investing strategy
Hey - My partner and I recently purchased a property after much deliberation about how much we should borrow (and where, and how old, …). I’ve heard that home loan repayments shouldn’t exceed about 30-35% of your gross income. Does anyone know where that figure comes from and what assumptions were made? Is there a calculator that can give a more accurate percentage? I’m guessing there’ are assumptions around age, relationship status, income, dependants, location, etc. Obviously a bit late for us as we’ve already bought! But I am curious as our ratio is quite a bit higher. Thanks.
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Stuart
Asked on 23 November 2023
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