Frequent Buyer Question: How Much House Can I Afford?

    Buying a house in Casa Grande can be a daunting idea, especially when you don’t know where to start. Oftentimes, figuring out how much house you can afford can be a great first step, as it allows you to substantially narrow the full market’s available listings into something more manageable.

    There are lots of home buying calculators on the internet these days, like this one from Bankrate. You’ll simply enter your monthly income, then include other factors like down payment and term. If you aren’t sure of these numbers, the site plugs in some averages for you. The form will also ask about monthly expenses, so try to be honest about your spending habits to get the most reliable numbers back. Typically, these will include any items reporting on your credit report.

    While Bankrate includes a $20k down payment in the calculation, that number could be much lower if you qualify for down payment assistance or other mortgage types that provide 100% financing, essentially requiring NO down payment to purchase your new home! Just ask us—we’d love to walk through financing options with you!

    Yost Realty Group at RE/MAX Casa Grande is a full-service real estate team proudly serving home buyers and home sellers in the greater Casa Grande area.

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