Edina Realty: Team Fellman
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Thoughts and Musings

How Much Home Can You Afford?

Photo by Lite Productions/Lite Productions / Getty Images

Photo by Lite Productions/Lite Productions / Getty Images

We follow a very simple principal when people ask us about how to start the home buying process. 

1.) Get pre-approved

2.) Sit down with us

Some agents will try to flip that and want to sit down with you first but really the most important step in the process to finding a new home is figuring out where you are financially. Getting pre-approved is how you do that. However, getting pre-approved sometimes just means a lender will tell you how much home you can buy, but just because you can afford $500k doesn't mean you will want to spend that. We've put a really great Affordability Calculator below so you can see truly, based on your own comfort levels, how much home you can afford. This will help you decide, combined with your pre-approval letter, how much house you should buy!

If you have more detailed questions, feel free to get in touch with us or our awesome lender!

Eric Bloomstrand

Senior Loan Officer | NMLS Number 274211

Bell Mortgage | A Division of Bell State Bank & Trust

6900 Wedgwood Road | Suite 100 |  Maple Grove, MN 55311

Work 952.905.5507  | Cell 612.961.2600 | Fax 855.800.9799


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