how much can I afford

Thumbnail image for How much house can you afford?

How much house can you afford?

by Mario Acosta July 9, 2015 Buyers

Methodology

Use this calculator http://tinyurl.com/calculatenow

To arrive at an “affordable” home price, we followed the guidelines of most lenders. In general, that means your total debt payments should be no more than 36% of your gross income.

Once you enter your monthly debt (including credit cards, student loan and car payments), we come up with a maximum monthly …

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Thumbnail image for Mortgage rates falling; 30-year drops to 3.78%, Freddie Mac says

Mortgage rates falling; 30-year drops to 3.78%, Freddie Mac says

by Mario Acosta March 19, 2015 Various Topics

Long-term interest rates declined this week, with Freddie Mac saying lenders were offering conventional 30-year mortgages at an average of 3.78%, down from 3.86% a week ago.

The average for 15-year fixed home loans slipped from 3.1% to 3.06%, Freddie Mac said in its weekly report, released Thursday. The initial rate on loans fixed for five years …

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