



How Big a Mortgage Can I Afford? | | Print | |
Library - Financing | |
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: _________________________ 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. For more help, use Fannie Mae’s online mortgage calculators at Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS® |
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