Mortgage Calculator
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Mortgage Fast Facts
Here are some fast facts about mortgages: Two basic types are FRM fixed rate mortgages and ARM adjustable rate mortgages.(The mortgage calculator to your left calculates fixed rate mortgages). Many economists recommend spending roughly about 25% of your monthly income on housing. If you make $6,000 per month, your mortgage payment should be around $1,500 per month. This can vary greatly, depending on your circumstances.
Usually new houses are easier to finance because the lender tends to bear less risk.
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