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This calculates the monthly payment of a $160k mortgage based on the amount of the loan, interest rate, and the loan length. It assumes a fixed rate mortgage, rather than variable, balloon, or ARM. Subtract your down payment to find the loan amount. Many lenders estimate the most expensive home that a person can afford as 28% of one’s income.
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Does Anyone Know What the Current FHA Mortgage Rates Are? – New Florida Mortgage Mortgage rates moved lower again today, bringing them back in line with Monday’s levels for the average lender. That said, rate sheets have been very stratified between lenders during the recent spat.