How Much House Can You Afford in Chicago?
Whether you're looking to buy a luxury condo or a starter home, the first step is knowing your budget. That way, when you feel tempted by that amazing penthouse suite, you can more easily understand what it would really cost each month if you purchased it.
This mortgage calculator can be used to figure out monthly payments of a home mortgage loan, based on the home's sale price, the term of the loan desired, buyer's down payment percentage, and the loan's interest rate. This calculator factors in PMI (Private Mortgage Insurance) for loans where less than 20% is put as a down payment. Also taken into consideration are the town property taxes, and their effect on the total monthly mortgage payment.
Are you looking to purchase a home? Do you want information that can help you secure the right loan?