How Much House Can I Afford? A Practical Guide for Texas & Louisiana Buyers
Learn how lenders calculate affordability, what down payment you really need, and how to get a clear pre-approval before you start shopping.
“How much house can I afford?” is the first question most buyers ask — and the answer depends on more than just your salary.
The basics: debt-to-income ratio
Lenders look at your gross monthly income and compare it to your monthly debts (car payments, student loans, credit cards, and the new mortgage payment). Most conventional loans target a total DTI around 43–50%, though programs vary.
Don’t forget the full payment
Your monthly housing cost includes more than principal and interest:
- Property taxes
- Homeowner’s insurance
- PMI or mortgage insurance (if applicable)
- HOA fees (if any)
Use our mortgage calculator for a quick estimate, then get a real pre-approval for accurate numbers.
Down payment myths
You don’t always need 20% down. Options include:
- VA loans — $0 down for eligible veterans
- USDA loans — $0 down in eligible rural areas
- FHA loans — as low as 3.5% down
- Down payment assistance — grants and programs in TX & LA
Get a real number before you shop
A pre-approval gives you a clear budget and shows sellers you’re serious. Schedule a free consultation and I’ll run the numbers for your specific situation — no pressure, no guessing.