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Courtesy of Lori Lovell, REALTOR®
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.
To determine what your monthly mortgage payment would be on various loan amounts, visit
http://www.realtor.org/realtororg.NSF/pages/FMCalculators?OpenDocument&Login
www.REALTOR.org/realtormag Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS® . Copyright 2003. All rights reserved.
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Contact Lori Today!
Please fill out the form below today so we can set up a time to meet and discuss your real estate needs. Or call me at 325-650-4395.
Contact Information
Lori Lovell, Realtor®
Lovell Real Estate809 Knickerbocker Rd Suite A
San Angelo, TX 76903
Phone: 325-650-4395
Cell: 325-650-4395 / Fax: 325-659-3732
E-mail: Click here / Website: LORILOVELLREALTOR.COM
Equal Housing Opportunity. This material is based on information which we consider reliable, but because it has been supplied by third parties, we cannot represent that it is accurate or complete and should not be relied on as such. This offering is subject to errors, omissions, change of price or withdrawal without notice.
