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How Big a Mortgage Can You Afford? – oprah.com – What size mortgage you can afford will also depend on available interest rates, the length of the mortgage and whether you get a variable- or fixed-rate mortgage. A difference in interest rates of even half a percentage point can mean a lot. The monthly payment for a 30-year fixed mortgage of $300,000 at 6 percent is $1,799.
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Zillow’s Home Affordability Calculator will help you determine how much house you can afford by analyzing your income, debt, and the current mortgage rates.
Bankrate.com provides a free mortgage qualifier calculator and other mortgage qualifier calculators to help consumers figure out how much money they can borrow. Mortgages Get the Best Rates
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