How Much Can You Afford?
Anu and Michael are young and their lives are still very much in transition. Michael is making his way through medical school -- and taking out a lot of student loans to do it. Anu is just starting her career, not making as much as she would like, and unsure how quickly her salary will grow in a slow economy.
But they're ready to move from the city to the suburbs -- a big new dog is just one factor making them feel cramped in their space -- and they'd like to buy. The problem is, they want to know how much they should rely on their earning potential in deciding how much house they can afford. And they wonder whether Michael's loans will hurt their chances for a mortgage.
Anu and Michael, along with other young potential homebuyers have lots of questions about how how much home they can afford, how to make the mortgage process go more smoothly and how much debt they can safely take on to get the house of their dreams. So they asked the experts during our What Works Nowvideo discussion.
