Approved but can we really afford this house?

Approved but can we really afford this house? Our gross income is around $200k. The house is $625k we are putting 20% down and mortgaging $500k. With taxes and interest rate our monthly will be around $4700. Our monthly take home is around $9500. We have about $2500 of monthly bills (including groceries), subscriptions, student loans etc that we can not reduce further. We are putting 12% ea...

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