Cathy Baker of Houston's Baker Mortgage says it can depend upon their current debt..."I saw something where it said you need to have a 6-figure income to afford to buy a house. That's simply not true. It's also going to depend on what other kind of debt you have to factor in." Baker says even paying off your car can make a big difference. "Someone with a $65,000 annual income and no debt - can qualify for a $275 house!"
And she says don't let today's interest rates scare you. "Remember: You're MARRYING the house --- you're only DATING the interest rate! You can always re-finance if rates go lower." Baker says the Greater Houston market is looking good for buyers. She says there's a good amount of inventory available now - and that's a good thing.
Unlike California, New York, Florida, Washington and a host of other states, Texas doesn't even make the Top 20 U.S. States for home prices.