debt to income ratio

Depending on the building, usually between 28% to 35%.

25%

are we still talking about base salary only in 2010?

Yes. Base salary only.

help a noob out.
so does this mean that if your monthly debt payments is $2500 (mortgage, student loans, etc.), that you need to be making at least $10000 a month before taxes to be approved by the coop?

$2500 a month = $30,000 a year in expense. Annual income (before tax) of $120,000 will yield 25% debt income ratio; $107,000 will yield 28%; $100,000 will yield $100,000. Besides mortgage, expense must also include monthly maintenance for the coop/condo and any other outstanding loan payments (car, etc).

sorry, $100,000 annual income will yield 30%.

"so does this mean that if your monthly debt payments is $2500 (mortgage, student loans, etc.), that you need to be making at least $10000 a month before taxes to be approved by the coop?"

Provided you've added in the monthly maintenance.

got it thanks