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How much home you can afford

Income: The higher your income, the more you can afford to spend on housing.

Debt-to-income ratio (DTI): This measures your monthly debt payments against your income. Most lenders look for a DTI of 43% or less.

Credit score: A higher credit score can make it easier to qualify for a loan and get a lower interest rate.

Down payment: A larger down payment can lower your monthly mortgage payment and allow you to afford a more expensive home.

Interest rate: The interest rate on your mortgage will affect your monthly payment and how much home you can afford.

Location: Housing costs vary widely across different locations, so where you want to live will also impact how much home you can afford.

Ultimately, the amount you can afford will depend on the combination of these factors and your personal financial situation. A lender can help you determine how much you can afford to borrow based on your income, expenses, and credit history.