 | | Handouts for Consumers For Buyers | | ||
| For Buyers For Sellers Download Handouts for Consumers PDF English version and Spanish version available | 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. For more help, use the Fannie Mae’s online mortgage calculators. Next page | |