Originally Posted by Padge
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.