If your base salary is 115k, what’s the highest home price and monthly cost (total of mortgage, HOA, util, etc) you’d be willing to pay?

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HOA is a dealbreaker at any price.

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$3k. Absolute highest, assuming no above average car payment, reasonable student loan payments (if any), and no large monthly recurring discretionary expenses (ie. country club membership).

Based on your salary the most you should be paying, in total for the mortgage and debts would be approximately $3,194. HOA and utilities are fluctuating costs. HOA’s in the North East are much higher due to heating/cooling costs. Lenders calculate the HOA into the total payment, so a very high HOA could make the difference in your payment, but don’t take into account any utilities, (unless you’re applying for a VA loan). Talk to your real estate agent and others living in the area. Do your homework before jumping into buying a house/condo, it’s a 15 or 30 year obligation you’d be agreeing to. One note: Lenders use your gross salary when determining if you can afford the mortgage payment. My suggestion to you is to calculate your after tax take home, deduct all your current debts (car lease, credit cards etc) and what you have left over will be the highest payment you can afford. This calculation doesn’t take into account food , travel to and from work, extras for repairs or renovations. So if you can add these costs into your calc, the results will be what you have left over for a house payment (including taxes and insurance). If you need more info, feel free to direct message me. Good luck

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