How Much House Can I Afford?
The key items are the size of the down payment, interest rate, APR and the amount of the mortgage. The down payment might be zero in the case of VA-backed mortgages. Or a buyer may invest 20 to 25 percent of the purchase with a conventional loan and not be required to buy mortgage insurance. Your Long & Foster Sales Associate can be very helpful to you in determining just how much house you can afford.