Determine What You Can Afford

Purchasing a condominium involves one-time costs and monthly expenses. The largest one-time cost is the down
payment. It usually represents between 5 & 25% of the total price of the property. In addition to the actual
purchase price, there are a number of other expenses that you might be expected to pay for.

 

Annual Income:

($10,000 - $1,000,000)

Annual Property Taxes: (estimate)

($100 - $50,000)

Monthly Heating Costs/Condo Fees: (estimate)

($20 - $1,500)

Minimum Monthly Payments for Loans/Credit Cards:

($0 - $5,000)

Monthly Secondary Financing Payment: (if applicable)

($0 - $5,000)

Mortgage Interest Rate:

(2% - 25%)

Estimate Maximum Mortgage & Payment

Maximum Mortgage

Monthly Payment

 

 

 

Information should be verified by your lending institution.


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