How Much Home Can You Afford? | Budget Tips from Top Realtor in NJ

by Johnny Rodriguez

💵 How Much Can I Afford?

It’s the #1 question almost every buyer asks early in the process:
“How much home can I actually afford?”

Whether you're buying your first home or upgrading to something bigger, knowing your budget upfront can save you time, stress, and heartache. As the Top Realtor in North Jersey, I help buyers figure this out before we ever step into a showing.

Spoiler alert: it’s not just about your paycheck—it’s about your whole financial picture.

🧾 What Determines How Much You Can Afford?
Here are the main things lenders look at when deciding your buying power:

1. Your Gross Monthly Income
This is the total income you earn before taxes. Most lenders aim for your total monthly housing costs to be no more than 28–31% of your gross income.

2. Debt-to-Income Ratio (DTI)
This compares your monthly debt payments (credit cards, student loans, car loans) to your income. Ideally, your DTI should be under 43% to qualify for a good mortgage.

3. Down Payment
The more you can put down, the more you can typically afford. Some programs allow as little as 3% down, while others require more for better rates.

4. Credit Score
Higher scores usually mean lower interest rates—and lower monthly payments.

🧠 Pro Tip: Don’t Rely on Online Calculators Alone
Those tools can be helpful, but they don’t consider your full financial picture. The best move? Speak to a trusted mortgage lender for a pre-approval.

This will give you:

A clear max budget

An idea of your monthly payment

Realistic expectations for what you can safely afford

🤝 My Role as Your Realtor
Once you know your budget, I help you search smart—so you’re not wasting time on homes out of reach or missing opportunities within your range.

As the first AI-certified and Top Realtor in North Jersey, I use real-time data and AI-powered tools to find homes that match your goals, not just your price tag.

📲 Let’s Set the Budget—and the Game Plan
Ready to find out how much you can afford and what that looks like in today’s North Jersey market?

I’m Johnny Rodriguez, and I’m here to guide you from pre-approval to closing with no guesswork—just results.

Visit 611homes.com or text me at (973) 390-7319 to schedule your buyer consultation.

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