Your monthly housing costs—including principal, interest, property taxes, home insurance, private mortgage insurance (PMI), and homeowners association (HOA) fees—should be 25% or less of your monthly take-home pay.
Before house hunting, determine how much house you can afford. Your monthly housing costs—including principal, interest, property taxes, home insurance, private mortgage insurance (PMI), and homeowners association (HOA) fees—should be 25% or less of your monthly take-home pay.