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Home Buying & Renting
How much home can I comfortably afford?
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What do you call setting aside your expected monthly mortgage bill before you actually have it?

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Testing out the expense of a monthly mortgage bill is known as trying it on.

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The average household spends about how much of their income on housing?

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A common guideline for housing costs is about 28%, but costs can vary depending on where you live.

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Key Takeaways

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Before you fall in love with a home, make sure you know how much it will really cost. There are a few factors to take into account to help you prepare.

  • Create a good budget to get a sense of how much you can afford
  • Plan to spend about 28% of your income before taxes on housing
  • Consider a mortgage lender that offers mortgage discount points
  • Be sure to include less obvious housing expenses, like the cost of moving