How Much House Can I Afford?

A lender's maximum approval is not necessarily the same as a comfortable home-buying budget. Before you shop, build a budget around the payment and cash position you can realistically live with after closing.

Start With the Full Cost of Owning the Home

Consider principal and interest, property taxes, homeowners insurance, HOA fees when applicable, maintenance, utilities, and the cash you want to keep available after closing.

Quick explainer

Watch: The Costs Beyond the Listing Price

A home purchase can involve loan costs, taxes, insurance, and other expenses. Use this short video as a primer, then use the questions below to build your own comfortable budget.

Don't Forget Cash Needed at Closing

Your purchase price is only one number. Depending on the transaction, you may need funds for a down payment, closing costs, prepaid taxes and insurance, inspections, appraisal, moving expenses, and immediate repairs.

Ask What Happens if Something Goes Wrong

A comfortable budget should leave room for surprises. A buyer who uses every available dollar for the purchase may have less flexibility for a roof issue, appliance replacement, job transition, or other unexpected expense.

Lender Approval vs. Personal Budget

A lender evaluates your finances under underwriting rules. You should also evaluate the purchase based on your goals, savings, other obligations, lifestyle, and tolerance for financial risk.

Questions to Ask Before Shopping

What monthly payment feels comfortable, not merely possible?
How much cash will remain after closing?
Have taxes, insurance, HOA fees, and maintenance been included?
What happens to the budget if rates or costs change?
Are you still saving for other goals?

Need Help With Your Situation?

We can provide a focused second set of eyes on your home-buying plan.

Book a Consultation