How Much House Can I Afford? A Realistic Guide for Texas Homebuyers
Buying a home is one of the biggest financial decisions you’ll ever make, and one of the first questions we hear at Texas Lending Partners is:
“How much house can I afford?”
It’s a simple question with a few moving parts. Understanding what determines your home-buying budget can help you make confident, informed decisions (and avoid stretching too thin later).
1. Start With Your Income, Debt, and Credit
Your income, existing debts, and credit score are the foundation of how our loan officers at Texas Lending Partners determine what you can afford.
Income: Loan officers look at your gross monthly income (before taxes).
Debt: They’ll add up your monthly debt payments (like car loans, student loans, and credit cards).
Credit Score: A higher score can unlock better interest rates, which means lower monthly payments and more buying power.
2. Don’t Forget About the “Extras”
Many buyers forget about the ongoing costs of homeownership beyond the mortgage payment:
Property taxes
Homeowners insurance
HOA dues (if applicable)
Maintenance and repairs
Utilities and furnishings
It’s smart to set aside 1–2% of your home’s value each year for maintenance alone.
3. Consider Your Down Payment and Loan Type
Your loan type and down payment play a big role in what you can afford.
VA Loans: 0% down for qualified veterans and active-duty service members.
FHA Loans: 3.5% down with flexible credit requirements.
Conventional Loans: 3–5% down for many buyers with good credit.
USDA Loans: 0% down for eligible rural areas.
And if saving for that down payment feels overwhelming, don’t worry, we can help you explore down payment assistance programs like TSAHC, TDHCA, and SETH, which offer grants and forgivable funds across Texas.
4. Use a Mortgage Calculator (or Talk to Us!)
An online calculator can give you a ballpark number, but it won’t tell the whole story.
At Texas Lending Partners, we look beyond the numbers. We help you understand what’s comfortable, not just what’s possible.
Because buying your dream home should be exciting, not stressful.
Our team believes in lifetime mortgage services for every stage of growth, from your first home to your forever home.
If you’re wondering how much house you can afford, let’s connect.
We’ll walk you through your budget, explore loan options, and create a strategy that fits your goals, not just your approval amount.
Reach out to Texas Lending Partners today.
Let’s find out what home affordability really looks like for you.
