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7 signs you can actually afford the home you want to buy

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Here's how to be sure you can afford the house you want to buy.

If you've ever thought about buying a house, you likely already know how expensive it can be. And if that's the case, you've probably come to realize how much work it can be to get ready to buy. 

While housing prices have been on the rise, and trends in how buyers make down payments are changing, many looking to buy a home might feel that they're ready. 

A few top questions to ask are the classics: Can you make the 20% down payment? Is your debt-to-income ratio low enough? And while answering "yes" to these questions might get you approved for the mortgage, there are a few other questions to ask to make sure you're financially ready to make that house your home. 

Here are seven factors to consider to make sure you can truly afford the home you want to buy. 

Can you afford your dream home? Use this calculator to find out:

 

Personal Finance Insider offers tools and calculators to help you make smart decisions with your money. We do not give investment advice or encourage you to buy or sell stocks or other financial products. What you decide to do with your money is up to you. If you take action based on one of the recommendations listed in the calculator, we get a small share of the revenue from our commerce partners.

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