How much you can afford to borrow depends on a number of factors, not just what a bank is willing to lend you.
Each lender establishes its own mortgage offerings and eligibility criteria. ; You can narrow your options by reviewing various lenders and loan programs. ; Get quotes from at least three lenders so you can compare interest rates, fees, terms and customer service.
We go over the difference between what mortgage amount you qualify for and what you can afford, and how to budget to get there.
Home prices in the United States continue to hit all-time highs. A recent report from Redfin noted the median home price was at a record high of “$397, 482 during the four weeks ending July 7.” · Potential homebuyers often wonder: When is it a good time to buy a house? With home prices at their highest level in history and mortgage rates remaining near 7%, some would-be buyers think it’s better to wait. Others monitor real estate housing market trends to decide if they should buy a home ...
A mortgage pre-approval isn't the same as pre-qualification. Learn how to get pre-approved for a mortgage, including what information you’ll need to supply to a lender and what to do if your pre-ap...
Find out how mortgage lenders calculate how much you can borrow to buy a property, what income multiples are, why professional mortgages can be bigger and how the loan-to-value affects your mortgag...
Learn how to calculate home affordability based on your income, debt, and savings so you can see how much house you can afford and set a budget.
A mortgage affordability calculator or the guide that housing costs should not exceed 30% of your income can tell you how much home you can afford.
Use this calculator to estimate how much mortgage loan you can borrow for your new home.
Learn everything you need to know about how to get preapproved for a mortgage, including requirements and tips to increase your chances of preapproval.