If you are one of the NFL players whose career lasted long enough to qualify for NFL pension benefits you will need to decide when to begin drawing your pension. Although the NFL retirement plan defines normal retirement age as 55 years old, many players begin drawing their pensions early.
The standard industry recommendation for mortgage payments is that no more than 28 percent of your gross income should go to your monthly payments. To calculate this, simply multiply your annual, gross income by .28 and divide by 12.
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.