Are you still renting because you believe a mortgage is out of reach for you?
Or perhaps you find yourself wondering “what mortgage can I afford?“
There’s nothing wrong with renting a place to live … depending on your circumstances and priorities, renting can be a viable long-term decision.
However, if you’re still renting a place to live because you don’t know what you can afford, recognize that instead of paying down your own mortgage, you’re paying off someone else’s. That’s OK for a while, but if your desire is to actually own your own home, then continuing to rent is a false economy that leaves you with nothing for the future.
Many people remain stuck in this cycle because they’re not sure if they can afford a mortgage at all. Does that feel familiar to you?
If so, isn’t it time you started contributing to your own mortgage instead of paying off someone else’s? After all … the sooner you start, the sooner you’ll able to build up an asset that will grow over the long run.
You might not be able to afford a two-story mansion right now, but you CAN afford a mortgage, that is if you know how much mortgage you can bear. Basically, you need to know two things:
That’s it! Those are the only two things holding you back from finding and securing a loan for a new house that’s yours, not someone else’s. You don’t have to guess about these amounts. All you need now is a worksheet that helps you list your monthly expenses and income in a way that helps you come up with the magic ratio you need to afford a mortgage.
Use our free mortgage affordability worksheet to help you determine a mortgage payment amount that suits your budget and lifestyle.
Here’s what you’ll be able to calculate with this simple worksheet:
Click Here to Download Your Free Mortgage Affordability Worksheet
(This report is in PDF Format)