ABOUT THIS CALCULATOR: To arrive at an "affordable" home price, we followed the guidelines of most lenders. We've allowed a total debt-to-income ratio of no more than 36%. And we have assumed a housing payment-to-income ratio of 28% for our conservative estimate, and 33% for the aggressive one. Before buying, however, you should also factor in other savings needs, including retirement and college.
ASSUMPTIONS: We've assumed a 30-year mortgage term, annual property tax of $3,500 and homeowners insurance of $481 - the national average. And we do not factor in private mortgage insurance, which you'll owe if your downpayment is less than 20 percent of the purchase price. It averages from $50 to $80 per month. Plug in your own numbers for more tailor-made results.
*Include auto and student loans, alimony, child support payments and credit card payments.
Equal Housing Opportunity - distinctivehomesmainline.com Real Estate Web Site Design ?2006 All Rights Reserved - Privacy Statement
Damascus Real Estate
Links | Sitemap | Login
Philadelphia | Gladwyne | Villanova | Haverford | Mongomery | Philadelphia | Delaware |
ALL COMMUNITIES | GOLF & COUNTRY CLUB | LUXURY | PHILADELPHIA | BRYN MAWR | VILLANOVA | GLADWYNE | WAYNE | RADNOR | ROSEMONT | BERWYN | HAVERFORD | ARMORE | NARBERTH | LOWER MERION | WYNNEWOOD | TREDYFFRIN | EASTTOWN | Top Main Line Real Estate Selling Agent or Broker in the Philadelphia, Gladwynne, Villanova and Haverford and surrounding areas!
Main Line Real Estate
Equal Housing Opportunity