How Much House Can I Afford?

Every renter at some point in the life of renting will ask, “Could I be paying a mortgage every month instead of paying rent to my landlord?”  Maybe your landlord just served you a 30-day notice to increase your rent. There’s nothing like the good ol’ yearly increase to get you thinking: there must be a better way to spend your money every month to build equity and pay yourself instead of a landlord. Is there a better option for you? If you are starting to explore the possibilities, you’re probably wondering what kind of house your monthly rent would get you.  We offer a lot of advice on this blog for 1st time home buyers – from getting pre-approved to finding a home. But here is a place to start and get a quick overview of what you can afford: