How much house can I afford? Mortgage affordability explained

One of the questions I hear most often: "How much house can I actually afford?" It's a big decision, and it's not just about the numbers on a pre-approval letter. Lenders typically look at your income, debts, credit score, and down payment—using what’s called the 28/36 rule—to help set your mortgage limits. But true affordability goes beyond formulas. I always encourage clients to consider their full financial picture, their lifestyle, and future plans, as well as every housing-related expense. Buying a home is a major step, and my approach is to help you cut through the confusion and make a choice that fits both your budget and your goals.