To determine how much house you can afford, you should consider the following factors:

• Household income: This is the primary factor that lenders consider when determining how much house you can afford. As a general rule, most financial advisors agree that people should spend no more than 28% of their gross monthly income on housing expenses, and no more than 36% on total debt.

• Monthly debts: This includes any recurring monthly payments you make, such as car loans, student loans, and credit card debt. Lenders will take these into account when determining how much house you can afford.

• Savings available for a down payment: The more money you can put down on a house, the less youll need to borrow and the lower your monthly mortgage payments will be.

• Interest rate: A lower interest rate can significantly lower your monthly mortgage payment, so its important to shop around for the best rate.

• Location: Where you live plays a major role in what you can spend on a house. For example, youd be able to buy a much bigger piece of property in St. Louis than you could for the same price in San Francisco. You should also think about the areas overall cost of living.

To get a more accurate estimate of how much house you can afford, you can use an affordability calculator. These calculators take into account your income, debts, and other factors to give you an estimate of how much house you can afford. Some popular calculators include:

• NerdWallet Affordability Calculator
• Wells Fargo How Much House Can I Afford Calculator
• Zillow Affordability Calculator
• Bankrate How Much House Can I Afford Calculator

Remember that while these calculators can give you a good estimate of how much house you can afford, they are not a substitute for professional financial advice. Its always a good idea to consult with a financial advisor before making any major financial decisions.