How Much Home Can I Actually Afford? (A Central Ohio Buyer’s Guide)

I get this question every single week – and it’s honestly one of the most important ones you can ask before starting your home search.

The answer starts with one word: pre-approval.

Not pre-qualification – pre-approval. Here’s the difference.

Pre-qualification is a quick estimate based on what you tell a lender about your finances. Pre-approval is an actual review of your income, debt, and credit score by a lender. It gives you a real number – one that sellers and their agents take seriously.

Why does that matter? In a competitive market like Central Ohio, having a pre-approval letter in hand means you can move fast when the right home comes up. Buyers who aren’t pre-approved often lose out to buyers who are – even when they offer the same price.

Here’s what to do first:

• Contact a lender and start the pre-approval process before you start touring homes
• Know your monthly comfort zone –  just because you’re approved for a certain amount doesn’t mean you have to spend it
• Factor in more than the mortgage –  taxes, insurance, and HOA fees affect your real monthly payment

Ready to start the conversation about buying in Central Ohio? I’d love to help.

Don’t have a lender yet? No problem – I work with some great local lenders in Central Ohio and I’m happy to connect you with someone I trust.

📞 614-338-5082 🔗 katiepache.com