Bar graphs are used to compare things between different groups or to track changes over time. However, when trying to measure change over time, bar graphs are best when the changes are larger. . . . an Area Graph. Area graphs are very similar to line graphs.
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).
If your total monthly debt obligation with a particular mortgage amount will be more than 28 percent of your income, you need a lower mortgage payment. Considerations While you may be able to afford a mortgage with payments that are 28 percent of your income, this doesn't mean you should take out one that large.