While I am not a mortgage loan officer, I can tell you the rule of thumb my contacts give me.
Remember, to figure out how much you can afford you will need to know these things.
Credit - right now, most banks like a 640 FICO score
Income - figure about 35% or so of your income to housing
Assets - what do you own? Not paying on, but own?
Reserves - do you have a month or two set aside, just in case?
Again, this is not hard and true but just a gauge. Please speak to your loan officer to see what you may be approved for.
