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Trulia Phoen…, Home Buyer in Phoenix, AZ

How can you figure out on the back of a napkin how much house you can afford?

Asked by Trulia Phoenix, Phoenix, AZ Thu Dec 6, 2012

Help the community by answering this question:


This is a nonsense question
1 vote Thank Flag Link Fri Dec 7, 2012
Write your name and number on the napkin and hand it to a lender... :)
1 vote Thank Flag Link Thu Dec 6, 2012
A lot of times it is not how much you qualify but what payments are you comfortable with. Than you can figure out how much house you can buy.
0 votes Thank Flag Link Sun Dec 9, 2012
Easy, if the napkin came from Paul Bunyan's dinner table! Seriously, you'd need more than a few square inches. The question is really, how much payment can you afford? The answer will depend primarily on your income and debt, but many other factors come into play: your credit score, down payment, interest rate, property taxes, insurance, and HOA to name but a few.

As the other professionals here have suggested, contact a lender for a prequalification that will give you a pretty good starting point for your search. Then contact one of the helpful agents you see here.

Happy Holidays to all!
0 votes Thank Flag Link Sat Dec 8, 2012
How much house you can afford depend on how much you are qualified for, please see a loan officer if you are applying for a loan to buy the property. If you are considering using cash, how much house will depend on how much money you have. For an easier way to figure out how much house you can afford, visit: and use the free mortgage calculator provided.
0 votes Thank Flag Link Fri Dec 7, 2012
0 votes Thank Flag Link Thu Dec 6, 2012
Write down how much money you have in each account, add them up and you have the simple answer of how much cash you have to buy a home with.

If you want a loan it's time to connect with a professional so that we can provide guidance to the proper loan officer. At that time the professional loan officer will consult with you to understand your goals, debts, income, cash, credit etc and then you will really know how much you can afford.

Sorry but the days of the napkin have left the real world, the variables are extensive and complicated in the home loan environment today.
0 votes Thank Flag Link Thu Dec 6, 2012
I know it is not the back of a napking. But you can go to to get a general idea. Then go to your Realtor and they can recommend a good lender. Feel free to give me a call if you have any questions.
0 votes Thank Flag Link Thu Dec 6, 2012
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