Everyone's financial situation differs; it is important to recognize what you can comfortably afford to borrow. In general, the loan amount you can afford depends on four factors:
Your debt-to-income ratio, which is your total monthly payments as a percentage of your gross monthly income
The amount of cash you have available for a down payment and closing costs
Your credit history
The value of the property you are purchasing
For a better understanding of how much you can afford to borrow, use Discover’s Affordability Calculator.