Sentences with phrase «afford at current interest rates»

Instead of a set figure for affordability, the annual review will calculate area median income and then reverse engineer what a buyer would likely be able to afford at current interest rates, assuming a 5 percent down payment.

Not exact matches

At the current low mortgage interest rates, is it better to pay as much downpayment as one can afford, or pay 5 - 20 % and invest the rest, hoping for higher than 3.5 % returns?

However, a mortgage lender will look at your circumstances and see how much of a monthly payment you can reasonably afford - at current interest rates and at higher rates.

First - time homebuyers affording a 20 percent down payment on a median - priced home at the current average 30 - year rate would be responsible for an additional $ 720 in interest each year, according to realtor.com's report.