Wages vary in the United States as well. For example, the national median salary for entry-level project managers is $89,286, for established project managers is $96,425, for IT project managers is $100,000, and for engineering project managers is $107,472. Directors of PMOs make the most, raking in a solid $134,791 on average a year.
The typical bank limit on monthly mortgage payments is about 28 percent of your gross monthly income. Therefore, the bank thinks you can devote up to 28 percent of your household income to your mortgage payment and expenses (including taxes, insurance and association dues).
Below are the Underwriting Guidelines from USDA regarding what Income will be considered in qualifying borrowers for a mortgage loan. Understand that USDA is looking for 2 different parts of income. First, they want to know if the income that is received in the home exceeds the maximum income for that area.Second â USDA wants to see if the income received in the home can be considered âreliableâ and therefore used to qualify the borrower for the mortgage loan.Example Number One:irst, they want to know if the income that is received in the home exceeds the maximum income for that area. Second â USDA wants to see if the income received in the home can be considered âreliableâ and therefore used to qualify the borrower for the mortgage loan. Example Number One: