When it comes to figuring out how much house you can afford there are two considerations. First is how much the lender says you can afford but equally, if not more important, is how much you can comfortably pay each month. How do you figure it out? Well, that’s the topic of this video!
If you’ve done any searches on YouTube for how much house you can afford you likely saw videos giving you some specific numbers like 28%, 36% or 45% of your income. Some suggest it should be based on your gross income while others say your net income.
Most of these recommendations are idealistic…but unrealistic in the real world.
In this video I explain what mortgage companies require but more importantly how you can figure out the payment that is just right for you!
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