Put in your own numbers....

Temp856430000003146 · January 2011

.... and tell me, this calculator is crazy high - right? Do people actually use this to determine how much they should buy?!

http://cgi.money.cnn.com/tools/houseafford/houseafford.html

anelms · January 2011

That is crazy high! The amount it said was way more than we are even thinking for our dream home.

ShansBride · January 2011

yea, I think that is high. I wouldn't want to spend that much. I changed the downpayment amount and it just kept adding that to the price of the house and when I put in $0 down it still have me the same mortgage amount. I would think it would be pretty hard to even get a zero down mortgage anymore.

Future Navy Wife · January 2011

For us it didn't seem terribly high. Granted it was 100k more than what we paid for our current house and we couldn't imagine even spending that much, it isn't something we could never afford. I put 0 down since that is what just did and I also put our current rate in. I guess it depends on your priorities. Nice house and nice, affordable life, or a crazy expensive house and being house poor.

BoyMom21 · January 2011

Way too high. I couldn't be comfortable with anything that they thought was appropriate!

llizzyb · January 2011

Since we're planning on living off dh's income once he's done with grad school, I calculated it using that estimated income only. I also added it estimated student loan payments and one car payment for good measure. It told me that we could conservatively buy a house that cost 100k more than we would remotely consider.