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MAXIMUM MORTGAGE - 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%)



Maximum Mortgage Monthly Payment


Information should be verified by your lending institution.
 
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