The reason is that what contractors might charge to remove the current flooring, especially in cases of tile and hardwood, can vary wildly. Installation costs can vary just as much, so we would recommend contacting 2-3 contractors and asking how much they charge per square foot for removal and installation of flooring.
Multiply the amount of your loan times the total number of points as a percentage. Using figures from the above steps, the three points bought with a $400,000 mortgage would cost $12,000: $400,000 x 0.03 = $12,000.
There are lots of financial measures to meet to land the mortgage. The usual rule of thumb is that you can afford a mortgage two to 2.5 times your income. At $60,000, that's a $120,000 to $150,000 mortgage.You also have to be able to afford the monthly mortgage payments, however.here are lots of financial measures to meet to land the mortgage. The usual rule of thumb is that you can afford a mortgage two to 2.5 times your income. At $60,000, that's a $120,000 to $150,000 mortgage.