Looking to purchase a home and not sure how much house you can afford? In addition to finding the right mortgage for you with monthly payments you can afford, there are other economic factors to consider.
Using a Mortgage Calculator
A mortgage calculator can help you estimate your monthly payments including principal and interest, property taxes, homeowner’s insurance, and private mortgage insurance (PMI). Use a mortgage calculator to help you determine your budget. Use the following steps to help you in devising a practical budget.
- Begin your budget by determining how much you (and your partner) earn each month from all revenue streams. Consider if there are other ways you can boost your income to increase your budget.
- Calculate all