Can you afford your dream home?

Never let the mortgage be more than 30% of your after-tax income. I worked at a bank for several years, and I was continually rewarded for putting you further in debt. Why? The bank made money when you were in debt; when I did mortgages, there's something called TDS and GDS. There are mathematical formulas, but in the end, we could put you up to 40 percent, and sometimes someone as high as 42.5% of your income could go towards a mortgage. If you do that, you will be house poor statistically and mathematically. Is that a goal that you want in your life? No? Mr. Wonderful, advice at 30% is a good number to stick to. The lower that number is, the more financial freedom you will have. A house is building your wealth. It's building your freedom. I'm a huge fan of buying a house, but you have to do it wisely. If you have any questions about a mortgage, you can contact me.