Courtesy of John "Jack" O'Connell, Broker, CPM, REALTOR®

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.

To determine what your monthly mortgage payment would be on various loan amounts, visit

http://www.realtor.org/realtororg.NSF/pages/FMCalculators?OpenDocument&Login

Click here for printer-friendly format

Please Feel Free To Contact Us or Chat With Us Live!

Please fill out the form below and O'Connell Real Estate will contact you very shortly to discuss your real estate needs.

Or you can click on left button labeled "Free Home Estimate!" and O'Connell Real Estate can tell you what your home is worth in today's market, called a Comparative Market Analysis or CMA.

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Courtesy of John "Jack" O'Connell, Broker, CPM, REALTOR®

How Big A Mortgage Can I Afford?

Please Feel Free To Contact Us or Chat With Us Live!

Your Contact Info

What Are You Looking For?

Your Address

Contact Information