A look at late December, how it has affected Fed Funds Rates, and what this could mean for prospective home buyers.
Use our mortgage calculator to get an idea of what your loan will look like:
Instructions: Enter numbers and decimal points. No commas or other characters.
This is your principal + interest payment, or in other words, what you send to the bank each month. But remember, you will also have to budget for homeowners insurance, real estate taxes, and if you are unable to afford a 20% down payment, Private Mortgage Insurance (PMI). These additional costs could increase your monthly outlay by as much 50%, sometimes more.