Getting a Home to get a Loan

How much House can I afford?

I make x amount per year

In answer to your question, how much house you can buy you would need to peak with a lender. When you do the amount you make per month will usually go against monthly expenses, car payments, credit card, student loans, alimony, child support, etc. Then a loan agent will look at your work history such as 24 months same position or at least 6 months in a salary position, and the longevity of the work to continue. Money in the bank is also looked at. Credit scores and items of derogatory credit are looked at. Are there tax liens, bankruptcies, foreclosures in your past? Then it would depend on the type of loan you are getting. FHA or VA or Conventional or other. If you do an FHA loan are you married and what is on their credit report will be taken in to consideration as well. Each loan type has algorythums for the amount you can qualify for. Now the best way to find out how much you will qualify for is to do the following, gather two years tax returns and w-2's, two months bank statements and pay stubs, and go see a loan officer that you feel comfortable with and bring up all of your financial information and they are there to help you get that loan for the home you want.