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.
Use this affordability calculator to decide how much house you can afford. Enter your income, debts and down payment and the calculator can determine the amount you can afford to pay for a house, based on the conventional mortgage limit for your debt-to-income ratio.Move the slider to estimate a payment and purchase price that works best with your budget and financial goals. Examples:he portion of your mortgage payment that is due to the interest rate being applied to the principal balance. The Total Interest for a mortgage is the sum of all interest paid over the life of a loan. Interest Rate. The percentage of the principal balance of your mortgage that determines how much interest you must pay.