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.
The cost of PMI varies based on your loan-to-value ratio â the amount you owe on your mortgage compared to its value â and credit score, but you can expect to pay between $30 and $70 per month for every $100,000 borrowed.