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).
Click to See the Latest Mortgage RatesÂ» Figure 28 Percent of Your Gross Monthly Income. To figure out the total housing payment you can afford, calculate 28 percent of your gross monthly income. This gives you a conservative amount to work with because you are using pretax dollars.