Many lenders will hold Dave to the 28/36 rule in evaluating his application for a mortgage. What does the 36 mean?

A) A down payment of 36 months is required.

B) A down payment of 36% is required.

C) Debt payments including mortgage must be less than 36% of his gross monthly income.

D) Debt payments must be less than 36% of his monthly take-home pay.

E) Mortgage insurance is required during the first 36 months of the loan.