Why Banks Don't Use This Important Factor as Proof You Can Afford a Home

Why Banks Don't Use This Important Factor as Proof You Can Afford a Home
·6 min read

It can be frustrating to talk about housing costs with others and hear how little they spend on mortgage payments compared to how much I spend on my rent every month. A major reason for this is the difference between rent and mortgage payments, and the real amount of money required to become a homeowner. What does a mortgage payment cover?