Estimate that your monthly payments will be around 25% of your gross monthly income. Most lenders feel satisfied with that number. Keep in mind your credit score and any other monthly obligations will also be factored in. There are lots of mortgage calculators online that can be used to estimate what you can afford using different loan and rate amounts.
Click on the link below:
What are the advantages of buying a home?
Several! First of all, owning a home is a great way for you to build equity, take control of where you live, and invest in your family and your community. One study found that homeowners also report a higher quality of life.