are online mortgage calculators that tell you “how much can you afford” accurate?

Question by voteforME: are on-line mortgage loan calculators that inform you “how a lot can you manage” correct?
My month to month cash flow is 5500 ahead of taxes. I have no financial debt (i even possess my vehicle) and I have 20k to put down and it is telling me that I can only get a personal loan on 200k home????? I know a buddy of mind who tends to make less than I do who received a mortgage for 300k just previous calendar year. What is the deal.
oh, and my credit score is 730

Very best answer:

Solution by golferwhoworks
no you can go to 350k if you want to but do you want to go that large. I often advocate that you get significantly less so you can have a life not just a house loan
I am a mortgage loan banker in TN & KY

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