Calculator – How much can you afford?
The quickest answer is that it depends on a number of factors.
Lenders look at gross household income, your down payment
and interest rates. Your assets, liabilities, lifestyle
and debt comfort zone can also come into play when figuring
out how much money you can borrow in order to establish
your specific real estate qualifications.
Here is a quick mortgage calculator to help you figure
out what your payments would be on a monthly, semi-monthly,
bi-weekly or weekly basis. Please enter your mortgage amount
– this amount should represent the total dollar amount
that you plan to borrow. Enter the interest rate, the length
of the mortgage and the frequency of payments. Then click
on “Calculate” and it will figure out your payments
and total interest paid.