How Big a Mortgage Can I Afford?
Be Sure to Consider All the Costs
Kathy Akers
Your Trusted Real Estate Advisor
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Not only does owning a home give you a haven for yourself and your family, it makes great financial sense, too.
This calculation assumes a 28 percent income tax bracket. If your bracket is higher, your savings will be, too.
Rent: _________________________
Multiplier: X 1.32
Mortgage payment: __________________
Because of tax deductions, you can make a mortgage payment—including taxes and insurance—that is approximately one-third larger than your current rent payment and end up with the same amount of income.
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Be Sure to Ask About Our Special Programs for Buyers & Sellers
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Budget Basics Worksheet
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Mortgage Calculator
© 2012 Kathy Akers. All rights reserved.
Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS®
Copyright 2005. All rights reserved. www.REALTOR.org/realtormag
Not sure how large a mortgage payment you can afford? Use our Mortgage Calculator below to estimate your payment.
