Qualifying for a Mortgage?

Don't focus on how much you can qualify for, but how much can you afford. The two amounts may not be the same. Example: You could qualify for a $300K house, but can you afford to make the payments (principal and interest, insurance and taxes) every month? It's best not to "max out" on the mortgage. Purchase a home you can afford. Your mortgage payment should be no more than 30% of your take-home pay.