Please, if I hear this again, I will start screaming.
There are still banks and mortgage brokers out their that go by the numbers and the numbers only.
The monthly PITI payment which is Principal, Interest, Taxes and Insurance combined should not exceed 28% of the monthly gross income. That is what you bank tells you or your mortgage broker says, that is the rule!
The monthly gross income is $5000 that means PITI should not be more than $1400. Please do not fall for this. They look at you as numbers, not as real people. Use some common sense. If your rent is $900 per month now, and at the end of the month you do not have any money left over, how can you expect to make monthly payment of $1400?
That’s how simple it is. Look at your budget; are you willing to cut it by $500 to own a home instead of renting it? Can you even cut it by $500?