Sentences with phrase «stable monthly income»
The phrase "stable monthly income" refers to a consistent and predictable stream of earnings that is received on a regular basis, usually at the end of each month. Full definition
By setting it below 30 % or even 25 % of stable monthly income, you can greatly reduce the chances of loan default.
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For investors looking for stable monthly income from their portfolio, Canadian REIT's are definitely worth a look.
Lenders usually look for stable monthly income.
In the mortgage world, the rule of thumb is that your fixed monthly house payment should not exceed 28 % of your stable monthly income.
Borrowers should also be able to show the lender that they have a stable monthly income.
It's indispensable to have a stable monthly income.
For example, people who earn most or all of their income from self - employment activities often have a tough time validating their stable monthly income.
For retired people, having the assurance of a secure and stable monthly income is worth its weight in gold.