To determine how much mortgage you can afford, there are several factors to consider, including your income, expenses, credit score, and the size of the down payment you can afford to make.
As a general rule of thumb, many financial experts recommend that your mortgage payment should not exceed 28% to 30% of your gross monthly income.
However, it's important to keep in mind that your specific financial situation will determine how much mortgage you can afford. It's recommended that you work with a financial advisor or a mortgage lender to determine the best course of action for your individual circumstances.
Additionally, you can use online mortgage calculators to get a general idea of how much mortgage you can afford based on your income and expenses. Keep in mind that these tools are only estimates, and it's always best to consult with a professional before making any major financial decisions.
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