Octavian Ionici
James B. Marian
Jonathan Halket
Kareem A. Tannous
Edward D. Re, Jr.
Brian C. Payne
Anonymous
Would you be able to get a mortgage as a veteran? Easily, imo. You don't have put anything down with a VA loan, if you don't want to. They allow $0 down.
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Mortgage Calculator
Before accumulating unsustainable debt, it’s important to use a Mortgage Calculator like the one below to help you determine your monthly mortgage payment and the time it would take to pay off your debt.
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| Year | Interest | Ending Balance |
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See how your payments are allocated between interest and principal over time.
Total Home Ownership Cost
The total cost of home ownership is more than just mortgage payments. Additional monthly costs include homeowner's insurance, property taxes, Home Owners Association (HOA) dues or Condo fees, and maintainance costs. Use the options below to calcuate the full cost of homeownership. Enter your zipcode for more accurate estimates of property taxes and insurance.
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Tips
Making smaller payments every two weeks instead of once a month saves you interest and pays down your loan faster. How? By making payments every two weeks you actually end up paying more per year (the equivalent of one extra monthly payment).
Cities with the Most Overleveraged Mortgage Debtors
Ask the Experts
As one of the biggest financial transactions of our lives, the purchase of a home requires careful assessment of our finances as well as the potential impact of a mortgage. For advice on both buying and owning a home, we asked a panel of experts to weigh in with their thoughts on the following key questions:
- Is now a good time to buy a home?
- What are the most common financial mistakes people make when buying a home, and which are most costly in the long-term?
- If someone is currently overleveraged and has trouble affording their mortgage payments, what steps should they take?
- Is there any way for an individual to tell if his or her local housing market is overpriced?
- Are there certain housing markets or circumstances in which it is acceptable to be overleveraged in mortgage debt? If so, how much is too much?
- According to a recent study, household debt increased by $87 billion in the third quarter of 2020. What drives Americans to take on much more debt during the pandemic?
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Octavian Ionici
Ph.D. – Professor of Finance; Director, Financial Services Lab., Kogod School of Business – American University
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James B. Marian
MRE CCIM – Adjunct Lecturer, Masters of Real Estate Development (MRED) – University of Arizona
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Jonathan Halket
Assistant Professor, Helen and O.N. Mitchell, Jr Faculty Fellow in Real Estate, Mays Business School – Texas A&M University
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Kareem A. Tannous
Assistant Professor of Business and Economics, School of Business, Arts & Media – Cabrini University
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Edward D. Re, Jr.
AIA – Adjunct Professor - CCE, Lecturer Construction/Facilities Management, Continuing and Professional Studies – Pratt Institute
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Brian C. Payne
Ph.D., CFP® – Assistant Professor of Finance, College of Business Administration – University of Nebraska at Omaha
More Experts
Community Discussion
While WalletHub’s Mortgage Calculator can be eye-opening, it’s also helpful to leverage the WalletHub community. Our members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered....show moreshow less
Michael @mjstats
How would you afford payments????
Your husband would have to have a substantial amount of income to get you approved with no down payment.
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