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.
Mortgage Summary
Year | Interest | Ending Balance |
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Total Home Ownership Cost
How you compare
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:
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Is now a good time to buy a home?
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What are the most common financial mistakes people make when buying a home, and which are most costly in the long-term?
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If someone is currently overleveraged and has trouble affording their mortgage payments, what steps should they take?
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Is there any way for an individual to tell if his or her local housing market is overpriced?
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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?