risk assessment

How much can I pay for my house?

How much can I pay for my house?

For anyone thinking about buying a home, the fundamental question is: How much can you really afford the home? Put another way, with current interest rates, harsh risk assessment rules, and the cash down payment you can collect, what mortgage amount should a lender approve you, given your income, debt, and creditworthiness? Many homebuyers opt for a quick fix by visiting websites that provide the service of calculating the mortgage online. That's fine, except that just by entering your monthly income, your expenses, and what you think is your creditworthiness into a software calculator, that won't tell you exactly how…
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