How Much House Can You Afford? 5 Factors To Consider

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[{"selector":"#anim-0428d12e-1cf5-428a-a793-0155f7770916","keyframes":{"opacity":[0,1]},"delay":200,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-104dc344-57dd-4bf3-bdd1-b43d78135b65","keyframes":{"transform":["translate3d(0px, 93.63930%, 0)","translate3d(0px, 0px, 0)"]},"delay":200,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7c1ac3be-6f84-426f-9081-825a48870669","keyframes":{"opacity":[0,1]},"delay":200,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Congratulations on starting your home buying journey. It’s an exciting time to be looking for your dream home or starter home. Learn more

[{"selector":"#anim-9919ec9b-7044-4a14-bd27-dca1378a68c1","keyframes":{"opacity":[0,1]},"delay":200,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-cd9ccf1f-44bb-4e09-b946-0c73978fb719","keyframes":{"transform":["translate3d(0px, -51.69966%, 0)","translate3d(0px, 0px, 0)"]},"delay":200,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] You probably have mood boards and dream boards filled with all the decore you want to add to your new space but there’s always a question that looms as we start looking for that perfect place to call home. How much house can you afford? Learn more

[{"selector":"#anim-21f18083-0cd1-477f-8613-1f716d80b46f","keyframes":{"opacity":[0,1]},"delay":200,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9f8bf173-a2e6-4f9f-bb6a-a383de3d2464","keyframes":{"transform":["translate3d(0px, -57.17909%, 0)","translate3d(0px, 0px, 0)"]},"delay":200,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] That is a question many home-buyers ask themselves when they are in the process of buying a new home Learn more

How Much House Can You Afford? 5 Factors To Consider

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1. How Much Down Payment Do I Need To Buy a House?

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Applying for a Mortgage: Conventional Vs. Portfolio Lenders

[{"selector":"#anim-3cd57d69-91e2-4a32-b7e8-a41825d23782","keyframes":{"opacity":[0,1]},"delay":200,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-46e62873-e9b0-498e-974d-752cf5a9d13c","keyframes":{"transform":["translate3d(0px, -52.61288%, 0)","translate3d(0px, 0px, 0)"]},"delay":200,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] There are several types of mortgages, including 30-year fixed-rate loans, 15-year fixed-rate loans, and adjustable-rate mortgages, where the interest rate changes after every 3 to 5 years. Talk to your lender about all your options. Learn more

3. What Numbers and Ratios are Important to Mortgage Lenders?

[{"selector":"#anim-7d3c8819-43ad-4f4a-b6f9-7d240afe911e","keyframes":{"opacity":[0,1]},"delay":200,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e81407aa-0572-4d91-a57d-33a3139e16af","keyframes":{"transform":["translate3d(0px, -50.7864%, 0)","translate3d(0px, 0px, 0)"]},"delay":200,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Now that you have decided on your down payment and mortgage, the next step in calculating how much house you can afford is to figure out your debt-to-income ratio (DTI). Learn more

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