Posted on: 28th Mar, 2009 12:36 pm
What about weekly expenses and car insurance. Shouldn't there be a calculator that adds all expenses to figure out what you can afford?
It is all figured into your qualifying ratios. You are typically only permitted to have mortgage + other consumer debt up to 40% of your total monthly gross income. This allows for remaining funds to cover other expenses such as the items you mentioned and many others as well.