How Much House Can You REALLY Afford?

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#realestate #firsttimehomebuyer #javiervidana

[JavyVidana]

All you Real Estate Chads that are commenting “yeah but does it include x”. Guys, I’m not Zillow. When I tell you a monthly payment it includes everything (Principle, Interest, Mortgage Insurance, Taxes, Insurance). If it seems low that’s just AZ, I’m sorry you live in an expensive state don’t take it out on me.

[fdm]

Some things never change. 25 years ago when I was house hunting, I remember the realtor telling me I could 'afford' more than I set as my budget. Friends who bought around that time had exactly the same expierience. It's important to remember that the realtor's commission is based on how much you spend!

[SeanBaker]

First, you're the first YouTube I've watched on my new 4K TV. Goodness, you're clear and vivid. Second, my house payment is $535. I'm in OKC, and I wouldn't trade it for anything. 3bed 1.75bath. I save save save my money. I've been very fortunate to have a good long career so far.

[WinTheHouseYouLove]

Ha! Jokes on you, I don’t pay for food! I only make home made pasta, I grow the wheat out back too.

[MelieSue]

My lender just told me the other day he’d approve me for a $400K house. I had to try so hard not to bust out laughing. I only make $63K gross and I’m a single person! It would also be my first home, so I’m not coming into this with any equity from a previous home. Insanity right!? I was trying to stay around the $250K mark, which would put me comfortably in that 28% ratio. So your video confirmed I’m being smart! Lol. Unfortunately there are no decent houses in that price range in my city. So it looks like I’ll be a renter forever...

[natashanicole]

My husband and I qualify for about a 640, 000 home in CO we are looking for something in the price range on $430, 000 to $475, 000 since the bank will not be paying our bills 🤣🤣

[venk]

The point is - are you worried about your image of success or the actual success. Minimalism plays into this as well.

[mzsbrown]

The last time I purchased a house with my ex husband I literally sat down and looked at our entire budget and came up with a payment amount I felt we could actually afford. Our take home (after all deductions including medical and 401k) was around $6k and our mortgage ended up being $1900. That included insurance and property tax with 20% down. Based on our budget I refused to go over $2k in payment. That house costed us around $325k but the lender told us that we could qualify for a $485k house. This, I never listen to the lender . I was able to maintain that house after my divorce with 2 kids to support. I ended up selling at a loss but I wasn’t upside down with the mortgage thank god.

[RealRiders]

We got a 12 year old home so that means, water softener is going out, HVAC is going out, water heater is going out. It's better to have some cushion of savings for any repairs regardless of cost.

[herodotus]

Javier, thanks for 'spitting facts' about how dangerously loose the mortgage lending guidelines truly are. I teach personal finance for high school students and I'll be using this video as a great introduction to one of the most common financial mistakes-- buying "too much" house. You're doing great things!

[sugalips]

Don’t forget that Dave also wants you to get a 15yr mortgage too that’s under 25% of your take home pay, so that makes you qualify for even less lol

[jeffmendoza]

The "perfect home" illusion is gone from me now. First time home buying in my twenties doesn't even seem like a win in life, more like a money drain and a hassle. I earn good for myself and working on side hustles. Guess I'll just buy whenever i don't get screwed as much

[olivialee]

I’ve watched this twice now. Once a year or so ago and again today, this week we decided to go forward with actually trying to buy our first home and I am so glad I did the math with you!!!!

[itsFLIP]

The 3rd lender I got with asked me how much I had saved for closing and down payment and what I wanted my monthly payment to be and we would work from that. That’s how I knew I wanted to work with them. Asking me what my budget is and what’s my maximum I can pay really set me at ease

[Tyler_Bundy]

Not many buyers take the time to run these numbers... We need more of this!

[thatflywelshguy]

I remember when everyone told me “buy the most house you can afford.” I said screw that. Current house is 14% of net. Dave Ramsey would be proud lol

[LifeWithLowee]

I joined your live for the 1st time this morning. Vary informative, thanks!!

[carlenemae]

Thanks for this video. In the process of looking for my first home, this made me realize playing to the low end of my budget is the right thing to do! I have been looking at about the 28% rule ballpark without even knowing I was doing it! 😁Your videos have been very helpful as a first time and first generation homebuyer I appreciate you!

[iunnor]

I respect Dave Ramsey, he has some great tips to help with people that are terrible with managing money. But for the rest of us, he’ll have us eating rice and beans in our parents basements until we turn 45 so we can make an all cash offer on a house.

[hobear]

Javier: “MAKE SURE.”
Me: “Look at Javy man, so inspirational.”