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How Much House Can You Afford?

So you've been browsing the real-estate section, fantasizing about your next home. Chances are, no matter where you live or what you're looking for, you're horrified by the prices. Sure, the economy may have its ups and downs, but the real-estate market is still going strong. In fact, in many hot markets — like New York City and Boston — moving seems almost out of the question.

It isn't, of course. But how much you can afford is a function of two things: How much you can borrow and how much down payment can you muster. The two are interrelated, but we've broken this worksheet into two parts so you can see how each factor affects the mortgage equation.

How Much House
Can You Afford?

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