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Eman
@
2012 Oct 31, 1:25pm
How much house can I afford? I can afford as much house as the bank is willing to lend. So I guess the question you should ask is.....
How much is the bank willing to lend?
Not entirely true. The bank will often give loans for more than a person can truly afford. To live comfortably, I should not buy a house for more than 450K, but the bank will give me almost 700K (this was last April), based on my salary and credit score. However, I am not willing at all to pay more than 400K to buy land and build. Not going to settle for a former crack house in the NOBE (North Oakland Berkeley Emeryville).
What is not entirely true about my question above?
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