How large of a mortgage can I afford?

Some mortgage questions are more subjective than they appear. Can doesn’t always mean should.

Here you’ll need to consider home values, how much you make, what your other monthly liabilities are, what you’ve got in your savings account.

And what your down payment will be in order to come up with your loan amount.

From there, you can calculate your debt-to-income ratio, which is very important in terms of qualifying for a mortgage.

This is a fairly involved process, so it’s tough to just estimate what you can afford, or provide some quick calculation.

There’s also your comfort level to consider. How much home are you comfortable financing? Have you ever owned a property before? Do you need to ease into it?

And don’t forget the property taxes and insurance, which can make your housing payment much more expensive!

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