That is a reasonable housing expense ratio by most underwriting standards. (loanbiz.com)
For example, if a mortgage product has a housing expense ratio of 33 percent, the borrower's monthly housing expenses should not exceed 33 percent of his or her gross monthly income. (rbfcu.org)
Housing Expense Ratio: In traditional mortgage underwriting, the housing expense ratio is used as a guideline to calculate how large the monthly housing expense payments should be, based on gross month income. (rbfcu.org)