How much home can I afford with an FHA loan?

Start with a monthly payment you can comfortably sustain, then review what you may qualify to borrow. Your housing budget should consider principal and interest, property taxes, homeowners insurance, FHA mortgage insurance and any association dues.

Review more than one ratio

Debt-to-income ratios compare qualifying monthly debt payments with qualifying gross monthly income. Approval also depends on your credit, income documentation, assets, property and applicable underwriting requirements. A single percentage is not a universal FHA approval limit.

Allow room for maintenance, utilities, reserves and other household expenses when choosing your budget. A pre-approval is conditional and does not guarantee final loan approval.

Explore FHA financing or ask Team Windes to review your payment goals.

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