Fw: [Fredslist] Rule of Thumb

[Fred Klein]

The first responder!

__________________________________
Fred C. Klein
Klein, Zelman, Rothermel & Dichter, L.L.P
485 Madison Avenue, 15th Floor
New York, NY 10022
(212) 935-6020
fklein at legal.org
http://www.kzrd.com
http://www.gothamnetworking.com
----- Forwarded by Fred Klein/KZRD on 05/02/2006 02:52 PM -----
                                                                           
             "Lefkowitz,                                                   
             Steve"                                                        
             <slefkowitz at pemco                                          To 
             nline.com>                "Fred Klein" <fklein at kzrd.com>      
                                                                        cc 
             05/02/2006 02:36                                              
             PM                                                    Subject 
                                       RE: [Fredslist] Rule of Thumb       
                                                                           
                                                                           
                                                                           
                                                                           
                                                                           
                                                                           




In New York, its generally 5x annual income for a house.

That said, as a mortgage broker, there are other factors to consider.
Basically, you want to keep mortgage, R.E. taxes, insurance and other
monthly credit debt under 50%.

Hope that helps.  Great outing yesterday!

Steve Lefkowitz

-----Original Message-----
From: fredslist-bounces at gothamnetworking.com
[mailto:fredslist-bounces at gothamnetworking.com] On Behalf Of Fred Klein
Sent: Tuesday, May 02, 2006 2:25 PM
To: fredslist at gothamnetworking.com
Subject: [Fredslist] Rule of Thumb


Has anyone ever heard of a house buying rule of thumb that you buy a
house
at some multiple of your annual income?

__________________________________
Fred C. Klein
Klein, Zelman, Rothermel & Dichter, L.L.P
485 Madison Avenue, 15th Floor
New York, NY 10022
(212) 935-6020
fklein at legal.org
http://www.kzrd.com
http://www.gothamnetworking.com


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