Skip To Content

Financing Options

5. What House Payment Can I Afford?

Financing Options

The 28/36 rule is a general benchmark that you can use to determine how much of a house payment you are likely to get approved for.

Of course, it is always best to consult with a licensed Mortgage Lender before you begin house hunting. Our Preferred Lenders will…

  • know the current ratios allowed, which can vary depending on the type of loan.
  • find which loan program fits your personal goals best.
  • offer expert advice helping you reach your goals faster

It is important to note that the estimate mortgage payments you see calculated online, when searching for homes, ONLY includes PRINCIPLE + INTEREST. You’ll need to consider that adding property taxes and insurance can more than double this amount. Consult with your Waco Home Team agent for clarification.

Now, to explain the 28/36 rule!

Again, please feel free to call or text us with questions at 254-855-9500! We have time for you!

Want answers from experts?

Get a home estimate from NextHome Our Town

In the meantime, please grab NextHome Our Town’s exclusive Seller Workbook! Full of checklists, questionnaires and other downloadable resources.

Get the Seller Workbook HERE!