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deriancitho
deriancitho
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Tuesday 30 September 2025 17:30:00 GMT
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enriquemercado84
Enrique :
execelente 😎😎😎
2025-09-30 18:16:20
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Just because you’re approved for $500K doesn’t mean you should buy it Lenders approve you for the absolute max you technically qualify for, not what you can comfortably afford.  And they’re basing it on your gross income, aka money you never actually see after taxes, insurance, retirement, all that.  So when they say you’re approved for $500K, what they’re really saying is “this is the most we can give you before the bank thinks it’s too risky.”  Not “this is what’ll keep you living your best life.”  There’s a huge difference.  Let’s break down what you can actually afford without turning into someone who’s house rich and life poor.  First number: your monthly max. Take your gross monthly income and multiply it by 30%. If you’re making $5,000 a month, your mortgage payment shouldn’t be more than $1,500–$1,600. That keeps you comfortable, not stressed every time a bill hits.  Second number: your total home price. Take your annual gross income and multiply it by 4.5. That’s your realistic range. So if you’re making $60K a year, you’re looking at around $270K max.  Now here’s what you do with these numbers. Compare that monthly amount to your rent right now. Is the jump manageable or are you gonna be eating sleep for dinner?  Then go on Zillow and see what’s actually available in your price range. If you’re not happy with what you see, now you know you need to focus on paying down debt or increasing your income before you buy.  But at least you’re not walking into a lender’s office blind, getting gassed up by a number that’s gonna have you struggling six months in.  You’re making an informed decision based on what actually works for you. And that’s the whole point.  Drop a 🔒 if you’re staying locked in.  Next video, we’re covering exactly how much you need to save.#TikTokLearningCampaign #PersonalFinance
Just because you’re approved for $500K doesn’t mean you should buy it Lenders approve you for the absolute max you technically qualify for, not what you can comfortably afford. And they’re basing it on your gross income, aka money you never actually see after taxes, insurance, retirement, all that. So when they say you’re approved for $500K, what they’re really saying is “this is the most we can give you before the bank thinks it’s too risky.” Not “this is what’ll keep you living your best life.” There’s a huge difference. Let’s break down what you can actually afford without turning into someone who’s house rich and life poor. First number: your monthly max. Take your gross monthly income and multiply it by 30%. If you’re making $5,000 a month, your mortgage payment shouldn’t be more than $1,500–$1,600. That keeps you comfortable, not stressed every time a bill hits. Second number: your total home price. Take your annual gross income and multiply it by 4.5. That’s your realistic range. So if you’re making $60K a year, you’re looking at around $270K max. Now here’s what you do with these numbers. Compare that monthly amount to your rent right now. Is the jump manageable or are you gonna be eating sleep for dinner? Then go on Zillow and see what’s actually available in your price range. If you’re not happy with what you see, now you know you need to focus on paying down debt or increasing your income before you buy. But at least you’re not walking into a lender’s office blind, getting gassed up by a number that’s gonna have you struggling six months in. You’re making an informed decision based on what actually works for you. And that’s the whole point. Drop a 🔒 if you’re staying locked in. Next video, we’re covering exactly how much you need to save.#TikTokLearningCampaign #PersonalFinance

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