What You Qualify For vs. What You Should Actually Borrow

Lenders will tell you the maximum loan you qualify for. That number is based on ratios and rules, not your life.

It doesn't know you're saving for your kid's college, or that you want to remodel the kitchen, or that you'd sleep better with a smaller payment.

I run preapprovals every day. The first question I ask isn't what you want to spend. It's what monthly payment feels right.

Most people who stretch to their max regret it within six months. The ones who leave room in the budget don't.

Here's a simple test. Take the monthly payment we calculate. Add it to your current rent or housing payment. Can you afford both right now, today, without stress?

If the answer is no, the payment is probably too high.

A $700,000 home with 10% down at today's average rate of 6.375% runs about $3,940 in principal and interest. Add $800 for taxes, $200 for insurance, $200 for mortgage insurance, and $300 for HOA. You're at $5,440 a month.

That's the real number.

The buyers who do best are the ones who could technically afford more but choose not to max out. They close with cash left over. They aren't stressed when the water heater dies.

I run a full preapproval with real numbers: your income, your debts, your down payment, and today's rates. Then we talk about what monthly payment feels right, not just what you qualify for.

No signup, no sales pitch. When you're ready, I'm the loan officer who answers the phone and gets you to the closing table. Call me at the number below or visit my site.

Brett Hickman, NMLS 2010859. Rates informational only, not a commitment to lend, subject to change. Equal Housing Opportunity.