Before you start shopping for homes in Bastrop, the most important question is: How much house can I actually afford? Let’s walk through how to figure that out—without guessing.
1. The 28/36 Rule
Most lenders want your:
- Housing costs (including taxes and insurance) < 28% of gross monthly income
- Total debt (including car loans, student loans, credit cards) < 36%
Example:
$6,000/mo income × 28% = $1,680/mo max housing payment
2. Estimate Your Monthly Payment
Factor in:
- Principal + Interest
- Property Taxes (about 2.2% in Bastrop County)
- Homeowners Insurance
- PMI (if down <20%)
- HOA fees (if applicable)
Use a mortgage calculator or ask for a Bastrop-specific breakdown.
3. Don’t Forget Upfront Costs
- Down payment (3%–5% or more)
- Closing costs (2%–5%)
- Moving and setup expenses
4. Get Pre-Approved for Real Numbers
You’ll get a clear budget, rate, and estimated monthly cost—backed by a lender.
Final Thoughts
Buying smart means buying within your means. Let’s build a custom budget that fits your income, lifestyle, and long-term goals in Bastrop.
📈 Want a free Affordability Worksheet built for Bastrop buyers? I’ve got you covered.
