Can I afford the house I want to buy?
Most people are surprised at what they are qualified to buy and are allowed to
purchase much more of a mortgage then they ever dreamed they could. The big question
is what payment do you feel comfortable with?
How much you can afford for the monthly house payment, and how much you can invest
in the down payment will determine what payment you are qualified to make.
Monthly payments include the principal and interest on the mortgage loan, and
property taxes and insurance against fire and other hazards. These four costs
are often abbreviated "P.I.T.I." (For some buyers and lenders monthly housing
cost may also include homeowner association dues, condominium fees and mortgage
insurance).
Our handy Mortgage Calculator below along with today's National Average Mortgage
Rates, will help you figure out what you can qualify for in a mortgage and what
you would feel comfortable paying.
