3 Financial Moves to Make After Getting a Raise

Maurie Backman, The Motley Fool
·3-min read
3 Financial Moves to Make After Getting a Raise

As a general rule, mortgage lenders want to see you're not spending more than 28% of your gross monthly income (your income before taxes and deductions) on housing. Other factors include your credit score, your existing level of total debt, and the assets you have. If you refinance an existing loan, you might also snag an extremely competitive interest rate on your home loan.