Avoiding the "House Poor" Reality
Lenders may approve you for a maximum mortgage that stretches your debt-to-income ratio to its absolute limit (e.g., 45% to 50%). However, maxing out your borrowing capacity leaves minimal margin for emergency home repairs, ongoing maintenance, property tax hikes, or continuing retirement contributions. Following conservative underwriting guidelines ensures your housing costs enhance your lifestyle without jeopardizing your broader financial goals.
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