In this Blog Series Phil is answering questions that have been submitted by readers.

Today’s question is about “How much of my income should I commit to my mortgage?”

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Phil shares five thoughts that will help you with this situation.

• The concept of a multiple of your gross income is old school thinking.
• Applying a multiple to your income does not factor in expenditure.
• In addition, this formula does not factor in interest rates.
• Focusing on a percentage of your net income tends to encourage you to borrow too much!
• Instead, use your budget to determine the amount of borrowing and the structure of your mortgage.

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Get more information on how mortgages work by getting your hands on this FREE DVD.

How To Make Sure You Don’t end Up With A 50 Year Mortgage.

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You can submit your own question by replying to this blog, or by registering for your free gift from Phil at http://philstrong.com/freegift/

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