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.
Home affordability is about more than just how much you can borrow. Home affordability is about more than just how much you can borrow. You'll also need to consider the up-front costs of buying a house, as well as the ongoing expenses of home ownership.Use our Home Affordability Calculator to start thinking through your options.own payment. You can often get the best mortgage rates by paying a higher mortgage down payment. Down payments can range anywhere from 0% to 20% or more of the total cost of the home. 15% to 20% is ideal.