Is buying a good value in a strong neighborhood good for your family if your monthly mortgage payments are more than you can afford? NO NO NO

Factor in your “personal economy” before deciding what to buy. Would buying a well-priced home in a strong neighborhood be a good financial bet for your household if your monthly mortgage payments are more than you can afford? Absolutely not, Tyson says.

Prevailing standards for mortgage approval remain rigorous. Yet it’s still possible for many buyers to qualify for a larger mortgage than their finances warrant, thereby placing them at risk of future default. That’s because your lender doesn’t have the full picture of your financial obligations and spending habits.

I AM AN EXPERIENCED LOAN OFFICER (25+ YEARS) AND WILL, WITH YOUR INPUT, DETERMINE AN AFFORDABLE PAYMENT FOR YOUR NEEDS!