Home Affordability Illustration

How to Find out how much house you can afford

Before you start shopping for a new home, it's a good idea to determine how much a house payment will be (including taxes, insurance and HOA dues if required) you can comfortably afford. In addition, the amount of cash you have available for closing will be important in determining a sales price and loan amount you can qualify for.

Most mortgage borrowers will find it helpful to consider these 4 basic financial indicators before making a new home purchase:

  1. Monthly Income
  2. Available Funds for Down Payment
  3. Monthly Expenses
  4. Credit Score

It's also important to consider getting pre-qualified by a licensed Residential Mortgage Loan Originator. This can help strengthen your offer to the seller by documenting that you are, in fact, a "Qualified Buyer."

An experienced mortgage expert from a top-rated mortgage team & company like Your King Team at Brighton Bank will be able to offer you several loan options based on your needs and assist you in finding the best one available.
Contact us today to check your eligibility and get Pre-Qualified.