Schererville, IN Real Estate News

By Suzanne Willems
(Willems Realtors)
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 1.32Mortgage 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,
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