Family or Four Walls: How Much House Can You REALLY Afford on $100K?

Family First...Then the Fine Print

Family is everything. But even family needs a roof over their heads. I hear folks are makin' a hundred grand thinkin' they're rollin' in dough. Reality check: In this country that ain't what it used to be. We're talkin' about survival here not just drivin' fast cars. So let's break down how much house you can *actually* afford before you end up eatin' ramen every night. This ain't about speed it's about strategy. Know your limits then push 'em...but not too far. Remember you miss a payment you lose your house. It's that simple.

The 30% Rule: More Like a Guideline Than a Rule...Unless You Like Stress

The government's sayin' you shouldn't spend more than 30% of your income on housing. Sounds responsible right? Like Tej telling me to slow down. But life ain't that simple. That 30% covers more than just the mortgage. We're talkin' insurance taxes the electric bill...the whole nine yards. Subtract all that and that dream house might just become a shack. Don't let the numbers fool you understand what you really have to work with family.

Down Payment Showdown: Cash Talks

How much cash you got upfront? That's the key. The more you put down the less they can control you and the more you're the man (or woman) behind the wheel. A big down payment means lower monthly payments and less interest over time. Think of it like NOS for your finances. It gives you that extra boost you need to stay ahead of the game. But don't empty your savings account either. You gotta have something left for emergencies. This is a calculated risk family.

Can You Afford a $500,000 House? Only If You've Got Family...and $120,000

Everyone wants the fancy house the big yard the American Dream. But dreams cost money. If you're eyein' a half million dollar crib you better be makin' at least $120,000 a year. Otherwise you're just chasin' shadows. You can *swing* a bit less but don't cut corners on the important things.

Mortgage Rates: The Wildcard That Can Flip the Script

Credit score loan type location... they all play a part in determining your mortgage rate. But so does the economy the market... basically stuff you can't control. It's like street racing you think you have everything under control but then something unexpected happens and now your car is totalled. Don't get caught up in the moment. Be prepared for anything. Know what you're gettin' into before you sign on the dotted line.

Trust the Process Not Just the Promises

CNBC Select says they're lookin' out for you givin' you the real deal. Maybe they are. Maybe they aren't. Do your own research. Don't trust everything you read on the internet. Family always comes first.