How Much House Can You Really Afford

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What kind of house can you afford? The answer to this question would depend on details like current income, expenses, existing loans, and assets followed by the amount of down payment.

Watch the video of ‘Stop and Think: How Much House Can You Really Afford?’ on MoneyTalksNews.com. If you’re thinking now’s the time to pull the trigger on a home purchase, you’ll be.

If you earn $56,516, the average household income, you can afford $1,695 in total monthly payments, according to the 36% rule. The rule, which measures your debt relative to your income, is used by lenders to evaluate how much you can afford.

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