Estimate your month-to-month fee and see how much home you can afford. Probably the most significant issue affecting your month-to-month mortgage fee is your interest rate. For example, on Nov. 27, 2013, the common nationwide fee for a 30-yr mounted-rate mortgage was four.33 p.c. When you buy a home for 200,000, which is under the national common, your monthly fee would be $993.27, and you’d pay $157,576.ninety one in curiosity alone. If your rate of interest was only one level extra, your payment would increase to $1,114.34, and you’d pay $201,161.76 in curiosity.
The above device estimates month-to-month mortgage payments … Read More