How much house can I afford? At Matt Andersion Properties, we tell our clients that they first need to determine the monthly amount they feel they can pay comfortably. What a lender thinks you can qualify for can be higher or lower than that and you need to feel it is a payment you can make.

A Lender will qualify a borrower based on three factors: Credit, Income, and Assets.


A household (could be more than one borrower), should spend no more than 28% to 33% of its before-tax income (gross income) on household expenses.

Household expenses include mortgage principal and interest, hazard insurance, real estate taxes, and mortgage insurance. At the same time housing expenses and other long-term debts combined generally should not be more than 36% to 41% of gross income. Long-term debt includes car loans, credit card payments, student loans or medical bills. The stability of the income also plays a role.

Credit History

Lenders look into how a borrower has handled debt repayment in the past. A credit score is usually used to indicate the likelihood of you making payments on time. A higher score indicates a borrower is more likely to make payments on time.


Some loan products require a down-payment. Borrowers are asked to verify their assets to fulfill that requirement. Larger cash assets also show a borrower’s ability to save.

Recommended Lenders

Name Company Phone Email
Rodger Medlock Benchmark/Ark-La-Tex Financial Services, LLC 843.216.8997 [email protected]
Jules Deas SunTrust Mortgage, Inc. 843.849.3029 [email protected]


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