Our team helps you understand your financial situation and how it applies to the property you want to buy or refinance. When seeing if you can afford a new loan, consider ongoing costs you’ll need to cover with the property. This will likely include your monthly loan payment, property taxes, insurance, and maintenance expenses. Knowing what interest rate you qualify for, your down payment amount, closing costs, and the term length of your loan will help you understand how much you can afford with your current income and expenses.