How Much Can You Afford?
This is the first question that most people ask, and the answer is often: more than you expect. There are dozens of programs to help you with down payments and loans, especially if you are a first-time homebuyer.
Mortgages
In many countries, people have to save up enough cash to buy a home outright. This can make buying a home seem an impossible dream. But here in the US, banks and other financial institutions will lend you up to 80%, 90%, even sometimes 100% of the price of the home. So qualifying for a mortgage is the biggest part of affording a property.
Here’s how lenders decide how much they want to let you borrow to buy a home: