How Big a Mortgage Can I Afford?
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.
For more help, use the Fannie Mae’s online mortgage calculators.
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For more information contact our team of REALTORS® at CENTURY 21 Village Realty at 626.355.1451 or via email at homes@c21village.com
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CENTURY 21 Village Inc. 38 West Sierra Madre Boulevard, Sierra Madre, CA 91024, P: 626-355-1451 DRE Lic# 01360317
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