Ultimately it's up to you to determine what mortgage payment you can comfortably afford.By Kali Hawlk
Just because a lender approves you for a mortgage doesn’t mean you can comfortably afford it.
If you ask Google “how much house can I afford,” you’ll find a number of online tools and mortgage calculators to help you find a fast answer. You might also find quick but somewhat confusing advice like “your mortgage payment shouldn’t take up more than 35% of your monthly income.”
Quick. Do you know what 35% of your monthly income is? If not, you’re not alone. While online housing tools are a helpful starting point for the early stages of your house hunt, it’s important that you understand how the pieces all fit…