Rent vs. Own: How Much More House Can You Afford?
Owning is cheaper than renting with historic low interest rates, and 0 to 3.5% down loans are available depending on your situation. Educate yourself by changing the numbers below to $75,000, 3.5% down, 3.75% interest, & 30 years, and clicking "calculate". The payment is less the $450 per month! There are plenty of nice homes under $100,000 on the market now. Also, because of federal and state income tax incentives, home-ownership is an important aspect of your retirement savings plan. Get started early!
This mortgage calculator can be used to figure out monthly payments of a home mortgage loan, based on the home's sale price, the term of the loan desired, buyer's down payment percentage, and the loan's interest rate. This calculator factors in PMI (Private Mortgage Insurance) for loans where less than 20% is put as a down payment. Also taken into consideration are the town property taxes, and their effect on the total monthly mortgage payment.
Looking for more information about Fergus Falls or Fargo-Moorhead Real Estate?
Please contact CENTURY 21 Vista, Inc. online or call us at 218-739-3281 (Toll Free: 1-800-777-7605) for a free consultation.