Question

What is the maximum percentage of net spendable income that should be set aside for housing?

Answer 1

The maximum percentage of net spendable income that you should spend on a house is 36%.

Answer 2

The maximum percentage of net Spendable income that should be set aside for housing is given by
`(28)/(36)` rule,which states that ,if your total gross income after deduction is $ x, then you should use 28% of your income for housing finances and 36 % of your income for debt Purpose.

So, Maximum percentage of net spendable income that should be set aside for housing=28% of total gross income