Yeah, lenders are definitely more generous than they used to be. I’ve seen clients get pre-approvals that honestly make me do a double take. It’s easy to get caught up in the excitement, but I’ve watched people regret stretching too far—especially when unexpected repairs or life stuff hits. Personally, I’d rather see someone buy a place they can actually enjoy, not just afford on paper. The spreadsheet approach is smart. Numbers don’t lie, even if the bank says you can go bigger.
Numbers don’t lie, even if the bank says you can go bigger.
Totally agree with this. The bank’s “generosity” is wild sometimes—my pre-approval was way higher than I’d ever want to borrow. It’s like, sure, I *could* buy a house with a wine cellar and a pool, but then I’d be eating ramen every night. I’d rather have some breathing room for surprise expenses... or, you know, actual groceries.
I remember when we bought our place, the bank basically tried to convince us we could afford a mortgage that was almost double what we were comfortable with. I had to laugh—like, do they think I’m secretly moonlighting as a billionaire? We stuck to our own numbers and I’ve never regretted it. Who wants to stress every month just to have a fancier kitchen? I’d rather have money left for takeout and the occasional emergency plumber...
Banks must think we’re all sitting on secret gold mines or something. I remember getting pre-approved and nearly choking on my coffee at the number they threw out. I’d rather have a smaller mortgage and still be able to splurge on pizza night... or, you know, fix the leaky toilet without panic.
“I remember getting pre-approved and nearly choking on my coffee at the number they threw out.”
- Had a similar moment—my pre-approval was almost double what I felt comfortable borrowing.
- Lenders use gross income, not actual spending habits, so their numbers can be way off.
- I always recommend folks focus on what they can actually afford month-to-month, not just what the bank says.
- Smaller mortgage = less stress when the water heater dies or you want to treat yourself.
