Whether you are buying for your first time or your tenth, It’s nice to have an idea of how much you can afford to spend.Use this handy guide to help pre-determine your price range…
Determine your total income by adding the following figures;
Multiply your total income from Step #1 by 3.25. This will give you an idea of how much of a mortgage you can carry
Add the amount you can afford as a down payment to the figure from step #2. This will give you a rough idea of the price range you should be looking in.