Courtesy of Sam Robbins, REALTOR®

How Big A Mortgage Can I Afford?

Not only does owning a home give you a haven for yourself and your family, it makes great financial sense, too.

This calculation assumes a 28-percent income tax bracket. If your bracket is higher, your savings will be too.

Rent: _________________________

Multiplier: X 1.32

Mortgage payment:__________________

Because of tax deductions, you can make a mortgage payment—including taxes and insurance—that is approximately one-third larger than your current rent payment and end up with the same amount of income.

To determine what your monthly mortgage payment would be on various loan amounts, visit

http://www.realtor.org/realtororg.NSF/pages/FMCalculators?OpenDocument&Login

Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2003. All rights reserved.


Contact Information

Dale Sorensen Real Estate Inc Sam Robbins, Broker
Dale Sorensen Real Estate Inc
1961 14th Ave
Vero Beach, Florida 32960

Phone: 772-643-5255
E-mail: Click here / Website: REALESTATEOFVEROBEACH.COM


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Equal Housing Opportunity. This material is based on information which we consider reliable, but because it has been supplied by third parties, we cannot represent that it is accurate or complete and should not be relied on as such. This offering is subject to errors, omissions, change of price or withdrawal without notice.
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The information on this Website comes in part from the Broker Reciprocity Program (BR Program) of Realtors Association of Indian River County. Many of these properties are listed with brokerage firms other than Coastal Signature Properties, LLC. and are indicated as such. The source of this information is copyrighted and proprietary (Copyright 2008 Realtors Association of Indian River County and all rights are reserved). The accuracy of this information is not warranted or guaranteed and should be independently verified prior to relying on such information.