afford tagged posts

What is the highest mortgage I could afford on a small home?

I generate with my fiance about $500 a week (well, its more but I am rounding it down quite a bit). We are looking to get a small home, 3 bedroom one floor house. We are in Michigan and plan to stay in our current area. I have fairly decent credit, not excellent, but certainly not bad. With utiliy cost in Michigan (winters mainly) what do you think our mortgage should be like? Whats the highest we can go on a loan? We are first time home buyers, and will likely try to find a foreclosure home to get us started for a good price.

Any opinions and help would be appreciate, its our first steps out into ownership!

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