Based on a general rule, your monthly mortgage payment shouldn't exceed 28% of your gross monthly income. With a $70,000 annual income, assuming a 20% down payment and current interest rates, you may be able to afford a home priced around $300,000. Other factors like debt-to-income ratio, credit score, and location will also impact affordability. Consult with a financial advisor or mortgage lender for personalized advice. You may also want to consider the cost of routine maintenance that might have previously fallen on your landlord, such as snow removal, yard care, HVAC tuneups, and heating, when calculating your monthly payment.