Understanding the 28% and 36% Rules for Home Buying | Ben Smith, Founder, Cove Financial Planning, LLC. 00:10:00
Ben Smith, founder of Cove Financial Planning, LLC, explains how to manage your housing expenses and overall debt when buying a home, especially with interest rates at historic lows. He breaks down the 28% rule, which suggests that your housing expenses should not exceed 28% of your gross income, and the 36% rule, which includes all debt payments. Ben offers practical advice to help you stay within these guidelines and make a financially sound home purchase.
