Issue link: http://www.epageflip.net/i/1096066
AACREDITUNION.ORG | 15 "People buy and sell homes because they've had a change in their lives," Young said. "That's really what drives decision making in real estate." News about interest rates and other real estate-related matters can be diffi cult to interpret for many consumers, especially when the news is national and the real estate market is local. That's where a licensed real estate agent can MORTGAGE CALCULATORS What percentage of your income should you be spending on your mortgage? To qualify for most mortgage loans, you should spend no more than 43 percent of your gross monthly income on all monthly debt payments. That includes mortgage, auto, credit card, student and other loans. Don't include utilities, groceries, entertainment and other costs. And note that this refers to your gross monthly income, before taxes are taken out. Also, some lenders may require a lower percentage of debt to income. "People buy and sell homes because they've had a change in their lives." come in handy. Young suggests relying on their help for a smooth process — whether you're buying or selling. "You want somebody that has a good listing track record for selling homes in the price range you're interested in," Young said. "They're going to know what's happening in the marketplace." MARK HENRICKS is a freelance journalist who writes about personal fi nance and business for national publications, including Entrepreneur, The Wall Street Journal and Business Insider.