How much can I afford for a house payment?
Generally speaking, you can purchase a home with a value of two or three times your annual household income. However, the amount that you can borrow will also depend upon your employment history, credit history, current savings and debts, and the amount of down payment you are willing to make. You may also be able to take advantage of special loan programs for first time buyers to purchase a home with a higher value. Contact a Bank of Tennessee Mortgage Banker at (866) 378.9500. We can help you determine exactly how much you can afford.
Loans subject to credit approval. Bank of Tennessee is an Equal Housing Lender