Home Buying Info |
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You can save yourself a lot of wheel-spinning if you take a minuteto figure out how much mortgage you can afford. Generally, a lenderwill want your monthly mortgage payment to total no more than 29%of your monthly gross income (that's your monthly income beforetaxes and other paycheck deductions are taken out.) You also needto consider current loan interest rates. The lower the interest rate, the more expensive the home you'll be able to afford. Follow our tips and use simple calculators to see how much you can afford in a mortgage payment.
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Monday, September 8, 2008
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