Be Financially Comfortable A home that's financially comfortable will suit you the best. There are various rules that make you aware regarding how much you can afford. Make sure your loan payments should exceed 31 percent of your monthly income. To follow a safer formula keep that percentage to 28. Try and figure out all the financial obligations before signing any papers. Before planning anything, cross check and calculate your mortgage payment, your price range including the taxes, insurances and utilities. This will make it easier for you to see the difference between what you spend now and how much will be pulled out of your wallet if you buy a house. The moment your finances start pinching, you can work out other plans.