Posts Tagged ‘Home Loans’
Calculating You Monthly Payments
Calculating your monthly payments Even when you find the perfect home builder, One of the most important factors to consider when building a new home is affordability. As a general rule, mortgage payments should not exceed 30-40 percent of your monthly take-home pay. When calculating affordability for FHA loans you can use 45% of your…
Read MoreUnderstanding Mortgage Rates For New Construction
Mortgage Rates; How & why do they change. Mortgage rates are mostly defined by the secondary market, where they are bought and sold. The two government agencies whose job is to keep the secondary market stable are Fannie Mae and Freddie Mac. These two government agencies not only help to establish the current mortgage rates…
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