How much home can you afford

Did you Know? Most lenders limit the percentage of household income that can be applied toward a mortgage (typically 28-29%). This protects borrowers from making unwise decisions.

How Much Home Can You Afford?

Paying too much for a home or borrowing more for a new home than you can afford, is typically one of the biggest reasons for dissatisfaction with a new home purchase. Most lenders assist you by making sure you can pay the monthly mortgage payment that you request. The lender is your business partner in this purchase. Often lenders protect borrowers by declining loans that are bad deals or if they feel you are putting yourself in dire straights.

Most lenders limit the percentage of household income that can be applied toward a mortgage (typically 28-29%). This protects borrowers from making unwise decisions.

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