What is the 35/45 Rule? A Comprehensive Guide to Understanding Your Housing Affordability

International humanitarian organizations claim they still encounter violence and practical challenges when attempting to provide aid throughout the famine-threatened region, following the death of World Central Kitchen aid workers in Gaza due to an Israel airstrike that drew international condemnation.

A week after the World Central Kitchen attack, UNICEF spokesperson Tess Ingram tells TIME over the phone from Rafah on Sunday about a terrifying and fruitless attempt to deliver aid to north Gaza. While waiting at a checkpoint, the convoy she was traveling in—which had been prearranged with the Israel Defense Forces—was caught in the crossfire. Although Ingram is unsure of the shooter, she believes the shots originated from the direction of the checkpoint, which she calculates to be less than a kilometer (about half a mile) away.

“The IDF works in order to prevent harm to humanitarian teams,” the statement from the IDF tells TIME after an investigation indicates that its forces “were not within firing range of the convoy at the time and place indicated and it was found that no fire was carried out at the vehicle by the IDF.” ”.

In response, Ingram states, “We believe it’s critical that an impartial inquiry be carried out in order to clarify the events that transpired and guarantee that going forward, we have the required security to provide aid.” ”.

The need is dire. One million people in Gaza face an impending famine, according to a warning issued last month by the global authority on food insecurity. The Hamas-run health ministry reported 28 children have died of malnutrition and dehydration as of April 12.

Despite the needs, more than half of recent requested aid missions to north Gaza were unsuccessful, the U. N. Office for the Coordination of Humanitarian Affairs reported. Between April 6, 2012, and April 7, 2017, Israel facilitated 2041 percent of the missions; the remaining 2041 percent were denied or impeded, including because of hostilities; in 2017, aid groups canceled most of the missions due to logistical constraints.

World Central Kitchen claims that it coordinated its movements with Israel prior to the military attacking its convoy on April 2, demonstrating that even well-planned missions can be risky. Following what Israel described as a “grave mistake,” seven aid workers died as a result, prompting President Joe Biden to issue an ultimatum to Israel: either increase food aid into Gaza and take action to protect civilians, or risk losing U.S. S. support.

In response, Israel declared it would create new channels for the entry of additional aid, including a crossing into the northern Gaza Strip. According to an email sent to TIME by COGAT, the IDF’s humanitarian branch, more than 300 trucks entered Gaza every day last week as part of an increase in aid.

Biden said Wednesday that the number of trucks was still “not enough. ” Data from UNRWA, the U. N. ‘s Palestinian relief organization only slightly increases (the organization counts trucks in a different way than COGAT, according to the Associated Press). COGAT accused the U. N. of failing to gather supplies, sharing a photo of goods stacked inside Gaza on X, and claiming that “the Israeli side is not the bottleneck.” ”.

The U. N. ‘s head has resisted, saying that workers are being threatened by bombardment and fighting because “the real problem is that the way Israel is conducting this offensive is creating massive obstacles to the distribution of humanitarian aid.” Since the war began on Oct. 7, 217 aid workers have been killed in Gaza, according to the Aid Worker Security Database.

UNRWA Commissioner-General Philippe Lazzarini wrote on X that “the increase in aid is not yet tangible, sustained or uninterrupted.” “Aid also needs to reach safely all those in need. ”.

Here’s what Ingram tells TIME about the challenges to delivering aid and the needs. The interview has been condensed and edited for clarity.

Buying a home is a significant milestone, but it can also be a daunting financial undertaking. One of the most important factors to consider is your affordability and the 35/45 rule is a valuable tool for understanding how much house you can truly afford.

What is the 35/45 Rule?

The **35/45%** rule is a recommendation that your entire housing costs, which include your mortgage payment, property taxes, homeowners insurance, and private mortgage insurance (PMI), if applicable, should not exceed 33.5 percent of your gross monthly income. Furthermore, your total debt obligations—which include your housing costs, auto payments, student loan payments, credit card payments, and other debt—should not be greater than 45% of your gross monthly income.

Why is the 35/45 Rule Important?

The 35/45 rule is important because it helps you avoid overextending yourself financially. If a significant amount of your income is going toward housing costs and other debt repayments, you might find it difficult to save money for emergencies, retirement, or other important objectives. Furthermore, you might be more susceptible to financial difficulties if you lose your job or incur unforeseen costs.

How to Use the 35/45 Rule

To apply the 35/45% rule, just figure out your gross monthly income and multiply it by both 45% and 15 percent. This will show you how much you can afford to pay for housing and how much debt you can afford overall. For instance, you could afford to spend up to $2,800 on housing and $3,600 on total debt if your gross monthly income is $8,000 per month.

Factors to Consider

While the 35/45 rule is a helpful guideline, it’s important to remember that it’s just a starting point. Your individual circumstances, such as your lifestyle, financial goals, and risk tolerance, will also play a role in determining how much house you can afford.

Here are some additional factors to consider:

  • Down payment: A larger down payment will reduce your monthly mortgage payment and give you more flexibility in your budget.
  • Interest rate: The interest rate on your mortgage will also impact your monthly payment. A lower interest rate will mean a lower monthly payment.
  • Location: The cost of living in your area will also affect your affordability. Housing costs are typically higher in urban areas than in rural areas.
  • Unexpected expenses: It’s important to factor in unexpected expenses, such as medical bills or car repairs, when budgeting for your home purchase.

Tips for Lowering Your Housing Expenses

There are several steps you can take to reduce your housing expenses if you discover that they are too high in accordance with the 35/45 rule:

  • Increase your down payment: This will reduce your loan amount and your monthly mortgage payment.
  • Choose a longer loan term: A longer loan term will result in a lower monthly payment, but you will pay more interest over the life of the loan.
  • Negotiate a lower interest rate: Shop around with different lenders to get the best interest rate possible.
  • Consider a smaller home: A smaller home will typically have a lower purchase price and lower monthly expenses.
  • Live in a less expensive area: If you are flexible about where you live, you may be able to find a more affordable home in a rural area or a smaller city.

The 35/45 rule is a valuable tool for understanding your housing affordability. By using this guideline, you can make informed decisions about how much house you can truly afford and avoid overextending yourself financially. Remember to consider your individual circumstances and adjust the rule accordingly. With careful planning and budgeting, you can achieve your dream of homeownership without sacrificing your financial well-being.

Do you know what instigated it or where it came from?

I don’t know what instigated it. It appeared to be coming from the checkpoint’s direction, heading south, and it appeared to be directed at civilians, or what appeared to be civilians, who subsequently turned and fled in the opposite direction. I would say I saw a dozen (apparent civilians).

What happened after the gunfire ?

We decided that we would continue with the mission. And basically, that just meant continuing to hold until we got the green light. Unfortunately, we held there for at least another two hours. And by that point, it was about 1 p. m. the mission could no longer be carried out because, even if we had been given the go-ahead, we would still have needed to travel to the checkpoint, through the checkpoint, and up north, and we would not have had the time to finish the mission. So we decided that we would turn back and try another day.

Today, we had our redo of our mission to the north. It was a 13-hour mission, and almost six of those hours were spent waiting for the green light. We didn’t get to complete everything, and that’s really disappointing. We were only able to conduct the nutrition and medical aspects of the mission at Kamal Adwan Hospital. We had 45 minutes on the ground at the hospital, that’s it.

We delivered a whole truck of medical and nutrition supplies. It included ready-to-use therapeutic food, which is a treatment for malnutrition, and high energy biscuits.

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