|
Click here to go back
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 * 1.32 = mortgage payment you can afford.
Rent: _____________________ X 1.32 = _______________________ (mortgage payment you can afford)
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 our online mortgage calculators at www.tnmrealestate.com/calculators.shtml.
Click here to go back
|
