BrokerPro?? answered:You shulod be using your gross income when calculating what you can afford, and add the taxes insurance to the payment- however, the banks are pretty strict these days, so if you are ready to close in two weeks, the underwriter has already qualified you based on their criteria so it shulod be fine also keep in mind you will now be getting a large tax deduction for mortgage interest and property taxes so you shulod end up getting more back at the end of the year, or better yet- adjust your W-4 now to get more back each pay period and very little at the end of the year! Congratulations on your new home- it sounds like you are very responsible and have worked hard to keep your credit great!