Buying a home is a huge undertaking, and for some people, the idea of having to cover a mortgage payment every month is quite stressful. In a recent survey by Ally Financial, 44% of home buyers said they feel anxious about taking on mortgage debt. But if you borrow strategically, you can alleviate that concern.
How to land on the right mortgage amount
Let's get one thing out of the way. Mortgage lenders use their own formulas to figure out how much of a home loan you qualify for. But just because you're approved for a given loan amount, that doesn't mean that's the amount you should borrow.
Maurie Backman | USA Today