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“How much house can I afford?” is one of the first questions homebuyers ask when they start thinking about purchasing a home. Between down payments, mortgage rates, PMI, taxes, insurance, and monthly debts, it’s easy to get overwhelmed. Fortunately, there’s a simple guideline that works surprisingly well: Most buyers can afford a home price around 4.5× their gross annual income. That number comes from real mortgage math based on today’s lending standards — especially when usi