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 Fannie Mae’s online mortgage calculators at

http://www.fanniemae.com/homebuyers/calculators/index.jhtml?p=Resources&s=Calculators

DISCLAIMER

Information presented on this website, including any online database information, is collected, maintained and provided for the convenience of our customers. While every effort is made to keep such information accurate and up-to-date, No.1 Quality Realty -- Cookeville Division or it's agents do not certify the authenticity of information herein that originates from third parties. No.1 Quality Realty -- Cookeville Division or it's agents shall under no circumstances be liable for any actions taken or omissions made from reliance on any information contained herein from whatever source or any other consequences from any such reliance.

Debra L. Dodd, Owner Dale Wilson Principal Broker,

No.1 Quality Realty -- Cookeville Division, Phone: 931-520-6401 ext. 112

Licensed Realtors in Tennessee

Each Office Independently Owned & Operated