The banks use your gross income (before taxes) to determine how much mortgage you can afford. To play it safe, use your net (take home pay) income figure instead, to determine how much mortgage you are comfortable with. The worst feeling in the world is to be “house poor” and not be able to afford the other things in life. Vacations, hobbies, concerts and dinner out are just some of the things that are every bit as important as a roof over … →