Ever wonder how much house can get for a certain “monthly payment”?
The mortgage calculator below can help give you a headstart. Now remember, EVERY mortgage payment includes 4 parts. We call PITI – Principle, Interest, Taxes, Insurance. Mortgage calculators can only figure on Principle and Interest so don’t forget to leave room for Taxes and Insurance.
I can provide you with the annual taxes on any property you are considering and your local homeowners insurance agent can give you a quick quote on homeowners insurance. These two pieces can simply be divided by 12 and added to your “P” and “I” for a realistic monthly mortgage payment.
Oh, and if you’re looking at a condo or neighborhood with a monthly HOA, you need to make sure you budget for that too!
