How Much Home Can You Afford?

When it comes to buying a home, do you have a good understanding of how much home you can afford? We often find that most people are surprised at how much home they can actually afford; especially when they compare a mortgage to the amount of rent that they are currently paying.

Bankrate has a very cool calculator that lets you play around with numbers to see how much home you can actually afford, taking into consideration your income to debt ratio. Go ahead and play around with it. Owning a home may be closer than you think!