Question:

How do I figure out what mortgage I can afford?

by Guest713  |  6 years, 1 month(s) ago

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How do I figure out what mortgage I can afford?

 Tags: afford, figure, mortgage

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  1. Guest713

     Determining the mortgage you can carry is based on a relatively simple calculation of loan amount, down payment, interest rate and amortization period.

    A good rule of thumb when figuring your monthly housing cost is that it should not exceed 32% of your gross monthly family income or 40% of your gross monthly income.

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