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Meet Bill Rapp

NMLS ID # NMLS # 228246

William Rapp, based in Houston, TX, US, is currently a Capital Advisor at Medallion Funds, bringing experience from previous roles at eXp Commercial, NEXA Mortgage, Viking Enterprise LLC and Sun Realty - Houston. William Rapp holds a 1997 - 2001 BBA in Finance @ Texas A&M University. With a robust skill set that includes REO, Sellers, SFR, FHA financing, Reverse Mortgages and more, William Rapp contributes valuable insights to the industry.

The Client Experience

Great experience purchasing our first home! Bill was easy to reach and always able to answer any questions or concerns.

27185 Astoria Brook Ln, Katy, TX 77494, USA

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🏡 What’s Your Real Home Budget? 💳 How Income, Credit & Debt Shape Affordability

💰 How Much House Can You Afford in 2025? 🏠 Mortgage Breakdown for Every Budget

Bill Rapp, Commercial Mortgage Broker

June 14, 2025•2 min read

💰 How Much House Can You Afford in 2025? 🏠 Mortgage Breakdown for Every Budget

🏡 What’s Your Real Home Budget? 💳 How Income, Credit & Debt Shape Affordability

💰 How Much Home Can You REALLY Afford?

When you're shopping for a home, one of the first questions is: "How much house can I afford?" Spoiler alert—it’s not just about your income. Online calculators can mislead buyers by skipping over key variables like debt load, credit score, and loan type.

Here’s a clearer way to understand your true buying power—with examples.

📊 What Impacts Home Affordability?

1. Income
Your monthly gross income (before taxes) is a major factor. Lenders typically allow 28%–31% of gross income to go toward housing costs (principal, interest, taxes, insurance).

2. Debts
Your debt-to-income (DTI) ratio matters even more. Student loans, car payments, and credit card balances shrink your available budget for a mortgage.

3. Credit Score
The higher your score, the better your loan terms. A 740+ score can qualify for lower rates, while a 620 score might limit your loan amount—or even require mortgage insurance.

4. Down Payment & Loan Program
Are you going FHA with 3.5% down? VA with 0% down? Or conventional with 20% down? Each changes your required monthly payment and the loan limits you're eligible for.

💼 Real-Life Examples

Buyer A: $100K Annual Income | Low Debt | 720 Credit Score

· Monthly Income: ~$8,333

· Monthly Debts: $300 (car payment)

· Max Mortgage Payment (31% Rule): ~$2,583

· Estimated Home Price Range: $375K–$425K

Buyer B: $75K Annual Income | Moderate Debt | 680 Credit Score

· Monthly Income: ~$6,250

· Monthly Debts: $800 (student loan + credit card)

· Max Mortgage Payment (DTI adjusted): ~$1,500–$1,700

· Estimated Home Price Range: $250K–$300K

📌 Note: These examples assume current interest rates and 5% down.

✅ The Bottom Line

Don't rely solely on what a calculator tells you. A smart mortgage strategy considers:

· Pre-approval from a trusted broker

· Current loan programs available in your area

· Debt and credit planning before you shop

🎯 Ready to get pre-approved and see what you can afford?
We’ll review your full financial picture and help you find the loan that works best.

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Bill Rapp - Commercial & Residential Mortgage Broker

Whether you're a first-time homebuyer, a seasoned investor, or a business owner with ambitious plans, securing the right financing is crucial. At Medallion Funds, we take the guesswork out of mortgages, offering a comprehensive suite of residential and commercial loan options to fit your unique needs. Looking for Your Dream Home? We understand the excitement and challenges of navigating the residential real estate market. Our experienced mortgage brokers will guide you through every step, from pre-qualification to closing. We offer a variety of loan programs to suit your financial situation, including: • Fixed-rate mortgages: Offering stability with predictable monthly payments. • Adjustable-rate mortgages (ARMs): Providing competitive rates for a set period. • FHA loans: Making homeownership accessible with lower down payments. • VA loans: Rewarding veterans with attractive rates and flexible terms. Investing in Your Business Future? Growth often requires capital, and we can help you unlock the potential of your commercial property. Our brokers specialize in a wide range of commercial loan options, including: • Purchase loans: Financing the acquisition of new buildings or land. • Construction loans: Facilitating the development of your project. • Refinance loans: Restructuring your existing mortgage for better terms. • SBA loans: Providing access to government-backed financing for qualified businesses. The Medallion Funds Difference: We go beyond simply finding a loan. We take the time to understand your goals and develop a personalized strategy. Here's what sets us apart: • Expertise: Our brokers have a deep understanding of both residential and commercial lending. • Competitive Rates: We leverage our strong lender relationships to secure the best possible terms. • Streamlined Process: We handle the paperwork, keeping you informed every step of the way. • Exceptional Service: We're committed to providing you with a positive and stress-free experience. Ready to Take the First Step? Contact Medallion Funds today for a free consultation. Let's discuss your financing needs and help you achieve your dreams!

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Licensed to Do Business | NMLS # 228246

This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply. Copyright © 2021 | Medallion Funds

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Corporate Address : 2651 N. Green Valley Pkwy STE. 101 Henderson, NV 89014

Corporate NMLS NMLS # 1825831 | Company Website: https://medallionfunds.com/bill-rapp/

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