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Forum
-> Household Management
-> Finances
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amother
Taupe
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 Mon, Jul 18 2016, 5:56 pm
Can someone tell me how I can figure out how much a monthly mortgage on average will be for me. I don't need a detailed number, I want to be able to play around with the numbers to figure out how much of a down payment I would need for an affordable monthly mortgage.
I don't have a mortgage broker to contact right now - Im at the beginning stages of buying a house - I would like to see if we can afford it.
thank you
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mha3484
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Mon, Jul 18 2016, 5:58 pm
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There are online calculators that let you put in your down payment, 15 years or 30 years etc and give you an approximate payment. Google for Mortgage Calculator.
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amother
Cerulean
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Mon, Jul 18 2016, 7:01 pm
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Don't forget to figure in your estimated real estate taxes. If you live in a high tax area, your taxes will be a large part of the monthly payment.
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amother
Cerise
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Mon, Jul 18 2016, 7:17 pm
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Look up the listing on trulia, Zillow etc. they usually give an estimated monthly payment.
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finprof
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Mon, Jul 18 2016, 9:38 pm
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The taxes will have a big impact. You will also need to consider PMI (if necessary), HOA fees etc and your interest rate. Where are you looking? Do you know how to find this info? If not we are here o help! Good luck!
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