Why You Are the Only One Who Knows How Much House You Can Really Afford

McMansion

The process of buying a home and securing a mortgage can be very confusing if you don’t know what you are doing. That’s why it’s always important to do your homework. Obviously researching the mortgage process and the terms is very helpful, but perhaps the most important research you can do is in your own personal finances.

Go to any mortgage or banking website and more than likely you will find a “home affordability calculator” Apparently by feeding this calculator information about your annual income your current debts, it can tell you how much house you can afford. But what does that mean? I can only imagine that it means that if you are the average p

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One Response to Why You Are the Only One Who Knows How Much House You Can Really Afford

  1. Zook says:

    I agree with comments, but for the average bloke, they really should look someone up, an independent financial planner, and find out how much they can afford.

    I think someone who has $50K in college debt and wants to have children in the next couple years, should run this info by a CFP to get the proper perspective. An online calculator just doesn’t cut it. Even call a mortgage broker and run by your thoughts/intentions with a professional.

    To many folks think they know it all and buying a house should be a solid decision, not made online or whathaveyou.

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