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How Big A Mortgage Can I Afford

Not only does owning a home give you a haven for yourself and your family, it makes great financial sense, too.

This calculation assumes a 28 percent income tax bracket. If your bracket is higher, your savings will be, too.

Rent: _________________
Multiplier: x 1.32
Mortgage payment: _________________

Because of tax deductions, you can make a mortgage payment - including taxes and insurance - that is approximately one-third larger than your current rent payment and end up with the same amount of income.

Please consult your tax advisor.

For more help, use online mortgage calculators

Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS®
Copyright 2005. All rights reserved. www.REALTOR.org/realtormag