Income multiple
Credit scores & reportsA rule of thumb that links income to the maximum loan size.
Overview
Some lenders use income multiples as a starting point for affordability.
Other factors like commitments also matter.
Why it matters
- It can limit the size of a mortgage or loan.
- It affects expectations when house hunting.
- It is not the only affordability measure.
FAQs
Is income multiple the same for all lenders?
No. Lenders use different multiples and rules.
Can I increase my income multiple?
Improving affordability and reducing commitments can help.
Related terms
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