We agree with the contractor that the damages resulting from increased interest rates are consequential damages. Increases in interest rates are not caused by delays in completion of construction contracts.
So you can multiply your current rent by 1.33 to arrive at a rough estimate of a mortgage payment. Hereâs an example: If you currently pay $1,500 per month in rent, you should be able to comfortably afford a $2,000 monthly mortgage payment after factoring in the tax benefits of homeownership.
A loan officer will look at your income and credit report and say: âyou can afford $400 a month.â Well, you could finance a new Porsche for $400 a month if they stretch the loan long enough, but you certainly shouldnât spend that much on car. loan officer will look at your income and credit report and say: âyou can afford $400 a month.â Well, you could finance a new Porsche for $400 a month if they stretch the loan long enough, but you certainly shouldnât spend that much on car.