@iamandrewrussell: Imagine you're earning $60 an hour, working a steady 40-hour week. Now, if you're eyeing a $500,000 house with a 6.5% interest rate and a 3.5% down payment, here's a rough estimate of your scenario: Estimated monthly principal and interest: $3,000 Estimated Mortgage insurance: $200 Estimated Taxes and insurance: $1,000 That brings your total monthly mortgage payment to roughly $4,200. And guess what? With your income, you QUALIFY for up to $4,800 monthly for mortgage payments. However, make note that qualify vs afford is different. So speak with your mortgage professional about your specific situation to see if you can afford. #FinancialPlanning #homebuyer #mortgage #realestate #firsttimehomebuyer #mortgagebroker #FHA #math #mathing