Yes, although the 28% guideline is a bit conservative in most areas of the US.
A lot depends upon the solidarity of your income stream. If your job (income) is relatively secure and your income is stable, one could go higher.
Going higher than 28% (comfortably), would depend upon primary factors such as.
* a second income (from spouse)
* other monthly payments (like school loans, auto payments, CC payments, etc.)
* other obligations (child support, other debt payments).
* children
Back-in-the-day (here it comes ....
), I have paid up to 50% of my income for a house).
HOWEVER, that was in California (back in the 60s) and ..... the loan was VA backed; I had a wife with a degree in education, but did not work out of the home; we didn't have children; our car was paid off and I had a company car; my school loan was paid off; I had a solid job with excellent medical benefits ........ AND we were content for our home to be our main source of pleasure.
So, if your PITI (principal, interest, taxes and insurance) would be around 20% of your pre-tax income, you would be ahead of the curve.
If you have any other questions ...... just fire away ......
humfrz