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Mortgage Calculator with PMI and Taxes

Savings Corner

You’ll want to be aware of how much your monthly mortgage payment can change when the introductory rate expires, especially if interest rates are trending higher. Lenders look most favorably on debt-to-income ratios of 36% or less — or a maximum of $1,800 a month on an income of $5,000 a month before taxes. 12 = 0.004167.n

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Homes Still at Unaffordable Highs Despite Settling Prices

Savings Corner

The trend maintained a 16-year high hit last quarter as expenses require one-third of the nationwide average wage. A typical mortgage payment , property taxes, and insurance are taking up three percentage points more of the average wage than a year ago and 12 points more than early in 2021, just before home mortgage rates started rising.

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