If you've recently been pre-approved for a mortgage, you might be surprised by how much house you technically can buy. But qualifying for a certain loan amount doesn’t always mean it aligns with your financial goals. In today’s episode, Frank answers a listener’s question about whether it might make sense to buy at the top of your budget- or to consider a more measured approach.
Frank shares a story that illustrates some potential long-term considerations when stretching for a larger mortgage. He also outlines a few homeownership costs that borrowers don’t always factor in right away, like property taxes, insurance, and maintenance expenses. If you’re evaluating a major decision around buying a home, this conversation may offer helpful context as you explore your options.
Here’s what we discuss in this episode:
🏡 Why qualifying for a large mortgage doesn’t always mean it’s the right fit
🧾 Factors to consider beyond the purchase price
🗣️ How traditional advice about “buying big” could potentially backfire
0:00 – Intro
0:01 – Listener Question
0:30 – How Much House Can I Afford?
1:52 – Why Bigger Isn’t Always Better
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