Posts Tagged: mortgage affordability

How Much Should Interest Rates Affect Your Decision to Buy?
How Much Should Interest Rates Affect Your Decision to Buy?

How Much Should Interest Rates Affect Your Decision to Buy?

  |   By AuthorMy First Apartment
By Ali Donoghue Like it or not, if you need a mortgage to buy a condo, you need to understand interest rates. Your interest rate – together with the size of the the loan – determines the amount of monthly payments when you take out a mortgage on your home. So, for example, if you…
What Price Condo Can You Afford on Your Income?
What Price Condo Can You Afford on Your Income?

What Price Condo Can You Afford on Your Income?

  |   By AuthorMy First Apartment
Before you step foot in an open house, you need to know how much condo you can afford. For example, if you make $50,000/year, you cannot afford a $300,000 condo, unless you have a secret trust fund. And even if you make $100k/year, a million dollar condo is way out of your league. And, if…