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Should I spend my pre-approval amount?
I was pre-approved for $475,000 house. But I look at the monthly payment and I'm just not comfortable with it. In my mind, it feels like it's too much. But I'm also wondering if I can afford more than I think. How do I decide if I should spend my full pre-approval amount?
Asked By Ryann | Sarasota, FL | 5 views | Finance Legal Info | Created 1 day ago
Answer(1)
Chris Cervantes
RE/MAX GOLD
Hi Ryann,
You’re thinking about this the right way. Just because you’re pre-approved for $475,000 doesn’t mean you have to spend that much. Pre-approval is the bank saying, “This is the max we’ll lend you,” but your comfort and lifestyle matter even more.
Focus on a monthly payment that feels manageable — one that still leaves room for savings, fun, and unexpected expenses. You can always look at homes a little below your pre-approval or adjust your down payment to lower the monthly cost.
At the end of the day, buying a home should feel exciting, not stressful. Pick a price that lets you sleep at night and still enjoy life — that’s the sweet spot!
You’re thinking about this the right way. Just because you’re pre-approved for $475,000 doesn’t mean you have to spend that much. Pre-approval is the bank saying, “This is the max we’ll lend you,” but your comfort and lifestyle matter even more.
Focus on a monthly payment that feels manageable — one that still leaves room for savings, fun, and unexpected expenses. You can always look at homes a little below your pre-approval or adjust your down payment to lower the monthly cost.
At the end of the day, buying a home should feel exciting, not stressful. Pick a price that lets you sleep at night and still enjoy life — that’s the sweet spot!
- 13 hours ago
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