How Big a Mortgage Can I Afford?

Not only does owning a home give you a haven for yourself and your family, it makes great financial sense, too.

This calculation assumes a 28 percent income tax bracket. If your bracket is higher, your savings will be, too.

Rent: _________________________

Multiplier: X 1.32

Mortgage payment: __________________

Because of tax deductions, you can make a mortgage payment—including taxes and insurance—that is approximately one-third larger than your current rent payment and end up with the same amount of income.

To determine what your monthly mortgage payment would be on various loan amounts, visit http://www.realtor.org/realtororg.NSF/pages/FMCalculators?OpenDocument&Login.

Detroit Price: $21900 Beautiful Colonial in South-West! Refinished Hardwood, loads of natural charm! Some painting and other updates including front porch! Buyer to sign ACR with city of Detroit prior to closing.

Dearborn Heights Price: $34900 Certificate of Occupancy attained! Beautifully updated home, just needs a few personal touches!! Updated Kitchen and Baths. Large walk in storage located in 2nd floor 1/2 bath. Nice sized bedrooms and closets, plenty of storage. Finished Hardwood Floors, Fresh Paint and New Carpet! Large fenced yard with 1 1/2 car garage, large covered front porch. Lovely view from the updated windows! Move in ready! Call today to schedule an appointment!