Result in higher rates, which raises your monthly payment and lowers the total house price you can afford. 🧮 How to Calculate Your Power To get a realistic number, follow these steps: Step 1: Determine Monthly Income Take your annual salary and divide by 12. Example: $100,000 / 12 = $8,333/month Step 2: Apply the DTI Limit

Standard for many first-time buyer conventional loans.

To help you get a more accurate number, I can run specific calculations if you'd like to share: Your ? Your total monthly debt payments ? How much you have saved for a down payment ? Your approximate credit score range?

A bank's pre-approval letter is the only way to "lock in" your official buying power before shopping.