How much house can I afford?

+1 vote
asked Oct 21, 2017 in Real Estate - Renting by Mistalee (220 points)
How much house can I afford?

If I make $100,000.00 per year how much house can I afford to buy on a $100,000.00 per year salary?

1 Answer

0 votes
answered Oct 23, 2017 by Dawson (710 points)
You should be able to afford a $250,000.00 house on a $100,000.00 per year salary. But you should always consider whether you actually need to spend that much on a house even if you can afford to do so.

The amount the mortgage lender will lend you to buy a home will also depend on your credit score. The higher credit score the higher the loan you will be able to get approved for assuming your income is enough to pay the mortgage payments.

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