MORTGAGE GUIDE
How much home can you afford?
The maximum amount a lender may approve is not necessarily the amount that fits comfortably into your life.
Start with the complete housing cost
Include principal, interest, taxes, insurance, association dues, utilities, maintenance, and possible mortgage insurance. Keep room for saving and irregular expenses.
Test your budget before buying
Try setting aside the difference between your current housing cost and the proposed full housing cost for several months. This can reveal whether the payment feels sustainable while also building cash reserves.