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).
For example, if you are currently paying 12 percent of your gross income for debt service, you could pay 24 percent of your gross income for a mortgage to make your 36 percent total debt figure. You will pay more for your house the first year, because you'll have closing costs that won't occur in other years.f you have credit card debt, a car payment, student loan or other debt, add that amount to your monthly mortgage payment to see if you can afford to spend 28 percent of your gross income on a mortgage.