Abby Badach Doyle

Thank you for having me.

Thank you for having me.

Thank you for having me.

The very first step is to understand what monthly mortgage payment you can afford. And NerdWallet's Home Affordability Calculator is a really helpful first step here. So another general rule of thumb is the 2836 rule. That says to spend no more than 28% of your pre-tax income on housing costs. and then no more than 36% on all debts.

The very first step is to understand what monthly mortgage payment you can afford. And NerdWallet's Home Affordability Calculator is a really helpful first step here. So another general rule of thumb is the 2836 rule. That says to spend no more than 28% of your pre-tax income on housing costs. and then no more than 36% on all debts.

The very first step is to understand what monthly mortgage payment you can afford. And NerdWallet's Home Affordability Calculator is a really helpful first step here. So another general rule of thumb is the 2836 rule. That says to spend no more than 28% of your pre-tax income on housing costs. and then no more than 36% on all debts.

So that includes your mortgage, your car payment, student loans, things like that. So once you have that comfortable monthly payment, you can play with different down payment amounts to see which home prices would be affordable, which prices are a stretch, and what's out of your price range entirely.

So that includes your mortgage, your car payment, student loans, things like that. So once you have that comfortable monthly payment, you can play with different down payment amounts to see which home prices would be affordable, which prices are a stretch, and what's out of your price range entirely.

So that includes your mortgage, your car payment, student loans, things like that. So once you have that comfortable monthly payment, you can play with different down payment amounts to see which home prices would be affordable, which prices are a stretch, and what's out of your price range entirely.

So there's two kind of prongs to this, right? First is the financial readiness, but then there's also, you know, the emotional readiness of are you ready to settle down? Are you ready to stay in the same place for a while? So that 28-36 rule is a really useful percentage guideline because

So there's two kind of prongs to this, right? First is the financial readiness, but then there's also, you know, the emotional readiness of are you ready to settle down? Are you ready to stay in the same place for a while? So that 28-36 rule is a really useful percentage guideline because

So there's two kind of prongs to this, right? First is the financial readiness, but then there's also, you know, the emotional readiness of are you ready to settle down? Are you ready to stay in the same place for a while? So that 28-36 rule is a really useful percentage guideline because

You can back into your budget based on like what your household budget and the numbers that you're working with right now. So you definitely don't want to stretch your budget more than what's comfortably affordable. You know that term house poor. But if you're able to make the numbers work with what you know about your cash flow, it is possible even with home prices being what they are.

You can back into your budget based on like what your household budget and the numbers that you're working with right now. So you definitely don't want to stretch your budget more than what's comfortably affordable. You know that term house poor. But if you're able to make the numbers work with what you know about your cash flow, it is possible even with home prices being what they are.

You can back into your budget based on like what your household budget and the numbers that you're working with right now. So you definitely don't want to stretch your budget more than what's comfortably affordable. You know that term house poor. But if you're able to make the numbers work with what you know about your cash flow, it is possible even with home prices being what they are.

That is such a myth, Sean, that it's like the most popular home buying myth that we encounter on the team. So you don't need to put 20% down to buy a house. And actually, the median down payment for first-time homebuyers, according to the National Association of Realtors, is only 9%.

That is such a myth, Sean, that it's like the most popular home buying myth that we encounter on the team. So you don't need to put 20% down to buy a house. And actually, the median down payment for first-time homebuyers, according to the National Association of Realtors, is only 9%.

That is such a myth, Sean, that it's like the most popular home buying myth that we encounter on the team. So you don't need to put 20% down to buy a house. And actually, the median down payment for first-time homebuyers, according to the National Association of Realtors, is only 9%.

And even below that, some loans have a minimum of 3% for conventional loans, 3.5% is the minimum for FHA loans, and some loans like USDA and VA mortgages don't require a down payment at all. So definitely don't need 20% down to buy a house. To share a personal story, when we bought our house last year,

And even below that, some loans have a minimum of 3% for conventional loans, 3.5% is the minimum for FHA loans, and some loans like USDA and VA mortgages don't require a down payment at all. So definitely don't need 20% down to buy a house. To share a personal story, when we bought our house last year,