🏡 How Much House Can I Actually Afford?

If you’re thinking about buying a home, there’s a good chance this question is bouncing around in your head:
“How much house can I actually afford?”

Totally fair question—and honestly, most people are surprised by the answer. The good news? You don’t need to have it all figured out before reaching out to someone like me. I can help you sort it out step-by-step.

But let’s break it down a bit, so you know what to expect.

💰 1. It’s Not Just About the Purchase Price

When most buyers ask this question, they’re thinking about the listing price—but lenders (and your monthly budget!) look at the monthly payment, not just the sticker on the home.

Your monthly payment typically includes:

• Principal + interest on your loan

• Property taxes

• Homeowners insurance

• Mortgage insurance (if putting less than 20% down)

• HOA fees (if applicable)

That means a $350,000 home in one neighborhood could cost you more per month than a $375,000 home in another—depending on taxes, insurance, and fees.

🧾 2. Lenders Use the “28/36” Rule (But You Don’t Have To)

Here’s what most lenders consider:

• No more than 28% of your gross monthly income should go toward your mortgage payment.

• No more than 36% should go toward all monthly debt (student loans, car loans, credit cards, etc.).

Let’s say you make $6,000/month before taxes. That means your mortgage payment should ideally stay around $1,680/month. But depending on your credit, debt, and down payment, some lenders may stretch that a bit.

🛠️ 3. You’ll Also Want to Factor in Life Stuff

This part’s personal—and it’s where your comfort level matters just as much as what a lender says.

Do you like to travel? Dine out? Save aggressively? Have a dog that needs a big backyard (or a vet budget)? These things matter. A lender might say you can afford $2,400/month, but if that leaves no breathing room, it’s okay to step back a bit.

I always encourage buyers to think about their real-life budget, not just the one on paper.

💡 4. A Pre-Approval Is the Best Next Step

If you’re even thinking about buying in the next 6–12 months, getting pre-approved is your best move. It’ll give you a clear price range and help you shop with confidence—and it shows sellers you’re serious.

Don’t have a lender yet? I work with a few great ones I’d be happy to introduce you to. They’re patient, local, and great with first-time buyers.

👋 Ready to Chat?

Even if you’re just dipping your toe in, I’m here to talk through your options. I’ll never pressure you to move faster than you’re ready—but I will make sure you feel educated and prepared every step of the way.

Let’s make a plan that works for your budget, your life, and your goals.

Click here to schedule a quick buyer chat with me. 👇

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