As real estate professionals, we get this question (or something similar) all of the time.
We checked with our preferred lenders and here is what we came up with!
Although this is just an estimate, below is a chart that will allow you to approximate a budget based upon annual income:
|Annual Income||Maximum Qualification(Purchase Price)|
Assumptions: 20% down payment, owner-occupied single family residence, 4% interest rate, NO debt, Good Credit.
Again, this is just an estimate – Do NOT rely on this chart as a guarantee of qualification, because every situation is unique.
To find out how much home you actually qualify for based upon your situation, check out our lending section!