The Easy Formula to Set Your Home-Buying Budget 🏡

Ready to turn your homeownership dreams into reality? Before you start scrolling through listings, let’s talk numbers. Knowing how much you can comfortably afford will save you time, stress, and prevent that dreaded “house-broke” feeling.

💡 Here’s a simple formula to calculate your ideal monthly mortgage payment:

1️⃣ Take your pre-tax salary
2️⃣ Add your partner’s salary (if applicable)
3️⃣ Divide by 12 (to get your monthly income)
4️⃣ Multiply by .28 (this represents 28% of your gross monthly income, a common affordability benchmark)
5️⃣ That’s your recommended monthly mortgage payment!

This quick calculation keeps your mortgage payment within a comfortable range so you can still enjoy life while building home equity.

Why Stick to 28%?
Lenders use the 28/36 rule, meaning:
✅ No more than 28% of your gross monthly income should go toward housing costs (mortgage, taxes, insurance).
✅ No more than 36% should cover total debt (including credit cards, car loans, and student debt).

Sticking to this guide helps you stay financially secure while achieving your homeownership goals!

Want a Personalized Breakdown?
Everyone’s financial situation is unique—so let’s crunch the numbers just for YOU! Drop a “🏡” in the comments, and we’ll help you determine the best mortgage fit for your budget.

💬 Have questions? Reach out today, and let’s get you prepped for homeownership!