Knowing how much you can borrow or at least afford to borrow is an important step in deciding what home to build.
There are a heap of mortgage or home loan calculators on the web but they will all give you pretty much the same information. How much will the mortgage cost me….we recommend not only working out how much the mortgage will cost you using a mortgage calculator but also working out a budget and again there are a heap of budgeting tools out there on the web. We like to use the Easy Budget calculator to play with our income and expenses and see what would happen if our mortgage cost a little more or perhaps was a little less.
Over on the Home Loan Calculator website you can not only see what a mortgage will cost you at various interest rates but also how much interest you will pay and how much you could save if you paid a little extra or changed your payments from monthly to fortnightly.