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SVTPerformance's Chain of Restaurants
Road Side Pub
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<blockquote data-quote="rotor_powerd" data-source="post: 15417864" data-attributes="member: 76391"><p>In general you're allowed 28% of your gross monthly for a mortgage payment (Includes taxes, insurance, PMI if applicable), and 36% of gross monthly for all debt payments. </p><p></p><p>Example - If you gross $10,000/mo, you are allowed a mortgage payment of up to $2,800 and total debts of up to $3,600/mo. </p><p></p><p>Figure up your numbers and see if paying the car note off is necessary or not to get you under that 36% number. If not then I'd just keep the cash on hand.</p></blockquote><p></p>
[QUOTE="rotor_powerd, post: 15417864, member: 76391"] In general you're allowed 28% of your gross monthly for a mortgage payment (Includes taxes, insurance, PMI if applicable), and 36% of gross monthly for all debt payments. Example - If you gross $10,000/mo, you are allowed a mortgage payment of up to $2,800 and total debts of up to $3,600/mo. Figure up your numbers and see if paying the car note off is necessary or not to get you under that 36% number. If not then I'd just keep the cash on hand. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
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