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Before you start looking for a home, you need to figure out what you can afford. This means closely examining your finances including income, expenses, investments, savings and debts.

The first steps in buying a house are ensuring you can afford to pay at least 5% of the purchase price of the home as a down payment and determining your budget. Watch this video to learn more then use the calculator to go through the process of finding out how much you can borrow. After you Fill in the entry fields simply click on the payment schedule button to see a complete amortization schedule of your mortgage payments.

Mortgage Affordability Video

Mortgage Affordability Calculator

Questions about mortgage affordability?

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