Mortgage interest rates are still incredibly low, making now a smart time to go for that bigger, better or newer home you’ve been dreaming about! When it comes to how much home you can afford, the interest rate, the mortgage term and other factors will need to be considered.
A great way to start is with helpful calculators available from the National Association of Realtors. Use the Mortgage Term Comparison calculator to compare your monthly payments for 5-, 10- 15- or 30-year terms, or determine your purchasing power with the Home Affordability Calculator. Once you know your numbers, let the Vanguard Realty Associates team help you find the home that works for you, your family and your finances!