How Big a Mortgage Can I Afford?

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.

 


RE/MAX Professionals - 350 Main Street N, #104 - Stillwater, MN 55082
Phone: (651) 439-7672   Email: Jonathan@JonathanLindstrom.com

Copyright © 2011 RE/MAX Professionals, All Rights Reserved. 

The materials contained within this page may not be reproduced without the express written consent of RE/MAX Professionals. The information herein is believed to be accurate and timely, but no warranty as such is expressed or implied.


Powered By Realestatehomepages.com