How Much House Can I Afford?  5 Factors  To Consider


How much house you can afford to buy depends on various factors, including your income, the size of your down payment, any existing outstanding debts, and your mortgage interest rate.

Here are the five key factors you should consider when determining how much house you can afford.

1. Down Payment – How much down payment do I need to buy a house?

2. Mortgages – What are the various types of mortgage options?

3. Lender Criteria – What numbers and ratios are critical to mortgage lenders?

4. Closing Costs – What are closing costs, and how much money do I need for it?

5. Property Taxes and Insurance – What is the impact of taxes and insurance on how much house I  can afford?