“Can I really afford a home right now?”
If that’s the question swirling in your mind, you’re not alone. It’s the most-Googled question by first-time buyers—and a smart one.
In South Riding, where the average home price floats around the mid-$600K range, knowing your numbers isn’t just helpful—it’s essential. But affordability isn’t just about the listing price. It’s about what fits your real life, not just what a lender says on paper.
What to Consider:
- Your Debt-to-Income Ratio (DTI): Most lenders look for a DTI under 43%.
- Monthly Comfort Zone: Factor in not just your mortgage, but HOA fees, taxes, insurance, and utilities.
- Future-Proofing: Will you be able to handle the payment if property taxes or HOA dues rise?
Local Pro Insight from Mounira Al Hmoud:
Many first-time buyers in South Riding are surprised to learn they qualify for programs that offer low down payments or closing cost assistance. Yes, even in today’s market.
Get depeer:
Curious what you could afford in South Riding right now? Let’s crunch the numbers together—no strings attached. Schedule your free affordability session with Mounira Al Hmoud today!
