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Calculating a Mortgage Payment

So you have looking for many weeks, browsing around at homes online and maybe doing some drive by’s in the car – checking out the neighborhood.  But you are wondering how much can you afford each month.

Usually the next step is to get pre-approved. Your mortgage rep will be able to give you that information. They will calculate your monthly payment at usually 15, 20 or 30 years, with your down payment. They will also include your yearly real estate taxes and home owner’s insurance.

If you are not quite that ready to call someone yet, check out this mortgage calculator and run your own numbers.