Basic affordability is determined by these factors: income, down payment savings, credit, and expenses (credit card, loans, monthly car payments, etc.). As a rule of thumb, the payment amount you can qualify for falls typically within 35-39% of gross income (before tax.)
Typically, it's a long and confusing process to figure out how much you can afford, so we created a simple tool to help borrowers get a general idea of what they can purchase in two minutes. Don't do this alone!