– How Much Mortgage Can I Afford? Many young, single, career-focused, and financially savvy adults are realizing that buying a home is the right decision for their personal and financial goals. In fact, more than 90% of Americans believe homeownership is the first step on the road to wealth.
Mortgage rates are low. Here’s how to figure out if you should buy or refinance – To start, it’s important to know how much you can afford. For one, you’ll need money for a down payment. Typically, that is about 10 to 20 percent of the purchase price of the home, depending on the.