Purchasing a property is a big decision and likely one of the biggest decisions you’ll ever make. With interest rates on the rise coupled with a shortage of inventory, we find ourselves discussing the true cost of a property and helping people determine what they can truly afford.

In a nutshell, here’s what it boils down to:

  • Your credit
  • Mortgage rates
  • Associated costs (downpayment, closing costs, etc.)


According to Fannie Mac, to get a rough estimate of what you can afford, most lenders suggest that you should spend no more than 28% of your monthly gross (pre-tax) income on your mortgage payment, including principal, interest, taxes and insurance.


If you’ve been considering purchasing a property, take advantage of a hassle-free consultation to determine if purchasing is a good decision right now and how much you can truly afford to spend.  During a consultation, we help you work through these numbers in detail and also factor in other things that are commonly overlooked such as large upcoming investments, expenses and lifestyle goals.


Keith McLaurin | Licensed Commercial Broker ID#01190109 / NMLS#1209195

Phone: (858) 324-1951 | To schedule a meeting or call, click here.