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How Much House Can I Afford? 14 Factors to Consider:
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“How much house can I afford?” Homebuyers and real estate investors have been asking that question every couple of months since interest rates began to rise. And even with mortgage rates going down, getting into a home is still quite costly. But, before you give up on your homeownership dreams, we’re going to do the math for you so you can see exactly how much house you can afford with your current salary.
Licensed mortgage advisor Hannah Escher is running the numbers with TODAY’S interest rates, so you know how much you can afford with a $75,000, $100,000, or $150,000 salary. Remember: you do NOT need to be making this alone. A spouse or partner can help you increase your loanability. We’ll also walk through the common costs of homeownership and how much you can expect to pay per month on your mortgage payment.
00:00 How Much House Can I Afford?
01:19 Renting vs. Owning
03:30 Costs of Home Ownership
10:05 How to Find a Lender
12:02 $75K/Year Salary
12:58 $100K/Year Salary
13:48 $150K/Year Salary
