How Much Home Can You Afford?6 Minutes
When trying to figure out how much home you can afford, there are a lot of factors to consider. This article will walk you through some things to think about before you start shopping for your next home.
- Your debt-to-income and housing expense ratios are key factors in determining how much money you can borrow.
- Multiple factors will impact how much your monthly mortgage payment will be. A careful analysis of your finances will help determine if you are able to afford the monthly payment.
- Remember—It is important to consider maintenance costs of your home, as well as your future financial goals, when figuring out how much home you can afford.