How Much House Can You Really Afford?

It's more than tempting to dive right in and start favoriting houses on real estate listing sites, but it's not worth falling in love — or even lust — if the property's way beyond your budget. But how do you determine your price range? You could reach out to mortgage lenders and see what they'd be willing to let you borrow, but you're likely better off working backward from the monthly mortgage payment. Here's why.

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