Wednesday, July 1, 2009

How much house can you afford?

It's the season of life. Weddings, budgets, babies, and buying houses.
How much mortgage can you afford? I ripped this tip out of Money magazine:

Multiply 25% of your monthly income by 186.28

Then, to find out how much down payment is needed to qualify for that mortgage, multiply the result above by 0.25
Now we're talking.
A recent home-buying friend recommended two sites for house shoppers:

I'm particularly fond of Ebby's polygon mapping system.

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