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Old 02-13-2007, 02:07 PM   #3
Kiwi
Scooby Newbie
 
Member#: 67942
Join Date: Aug 2004
Chapter/Region: SWIC
Location: I come from the Land DownUnder
Vehicle:
The Other
Land Down Under

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Quote:
Originally Posted by Padge View Post
I currently rent at $1250/mo and am selling my car, so I could pay up to $1750/mo and still be comfortable.

Problem is I have no idea what that translates to in terms of mortgage. On average, can I afford a 200K mortgage? More or less?

Does anyone know the best way to figure a rough estimate?
You can probably afford a $200k mortgage, whether a bank will lend it to you though, is a different story.
They'll look at your credit history etc and they will likely have a limit (%) of your gross income that would limit the amount they would lend you.
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