In this episode, we sit down with Mark Rawls, a Lake Norman–based mortgage professional with over 23 years of experience, to unpack one of the most misunderstood parts of the home buying process: what you can actually afford.

Joined by Eric Sanchez of the Lake Norman Home Team, the conversation goes beyond online calculators and headline noise. Mark breaks down how lenders really evaluate affordability—starting with simple, human conversations about income, assets, debt, and comfort level, not just maximum approvals.

They cover debt-to-income ratios, why the long-standing “30% rule” is often misunderstood, and how credit scores, credit card balances, and cash reserves directly impact rates and options. Mark explains what healthy credit looks like today, what happens below key thresholds, and why early conversations with a lender matter—especially for buyers re-entering the market after several years.

The group also addresses common myths, including online pre-approvals, no-minimum credit score rumors, and the proposed 50-year mortgage. The consensus: affordability isn’t solved by stretching timelines—it’s solved through planning, clarity, and education.

From gift funds and reserves to commute costs, insurance changes, and lifestyle expenses that don’t show up in mortgage calculators, this episode reframes home buying as a financial plan, not a transaction.

A practical, local, no-fluff conversation for buyers who want confidence—not surprises—before they start shopping.

Melissa Sanchez & Associates | Coldwell Banker Realty Lake Norman
129 Mecklynn Rd Ste E, Mooresville, NC 28117
(704) 775-0258
https://lakenormanhometeam.com/