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How much House can I afford? My wife and I have a combined income of $135K?

July 14, 2007 · Print This Article

how much house can i afford
xathlete2001 asked:


We don’t have car loans or any other debt. Thanks!

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Written by william · Filed Under Afford 
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Comments

6 Responses to “How much House can I afford? My wife and I have a combined income of $135K?”

  1. jargent100 on July 17th, 2007 8:10 am

    It’s impossible to answer without knowing how much you have saved, or your other expenses. A bank will probably preapprove you for a loan above $500K given your income, but only you will be able to determine how much you can REALLY afford. Try an online calculator like the one below as a starting point.

  2. mibanker on July 18th, 2007 11:25 am

    With no debt and the income stated (good credit) you would be approved for a house payment upto $4500/month…. which would purchase quite a home….. Good Luck

  3. txs_gurl83 on July 18th, 2007 3:47 pm

    There are several websites that you can go to like lendingtree.com that allow you to type in the variables to find out how much you want to pay on a mortgage per month. It’s location specific and interest rate specific.

  4. Johnny A on July 21st, 2007 8:57 pm

    I would say buy a house worth 500000….you will be so happy.

  5. Brian W on July 23rd, 2007 5:27 am

    The best thing that you can ask yourself when trying to finad out “how much house you can afford” is, wuold you be able to afford the mortgage and everything else if one of you lost your job. The biggest mistake that people make is to think about the now instead of down the road. Right now you may be making 135k combined but what if the company closes in 2 years? Could you still make the payment. That is the biggest and best question you can ask yourself.

  6. Nancy on July 24th, 2007 3:58 pm

    Honestly, you should stay below $300,000. Forget what they qualify you for as you want to make the mortgage, interest, insurance,taxes, and maintenance payments without feeling hardship. You also want to have money left over to SAVE for future problems—-I assume retirement is removed before take home. For your best interest, stay below $300k, anything else is severe overspending, risky nonsense IMO.

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