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Originally Posted by lrjohnson
I keep hearing that you can usually borrow up to three times your annual income. I'm in California; that won't get me a house in this State, even in my Northern rural county.
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It is possible that you can't comfortably afford a house in the area you want to be. I know California is one of those places that has seen insane appreciation in recent years.
In that case, keep renting. Don't get talked into any "creative" financing deal that lets you buy more house than you can really afford. Keep saving for a downpayment and hope that prices level off. If you can save up a big downpayment, that will make affording a home that much easier.