I will be graduating in December with my Bachelor of Science in Nursing and as soon as I get a job my husband and I want to start looking for a house to buy for ourselves and two young boys. I know I can use mortgage calculators online, but I don't know how accurate (or close to) they really are. I really want to get an idea of how much my monthly mortgage will be to give me an idea of what neighborhoods to start researching for homes. I've heard before that a mortgage is roughly 1% of the home cost. Ex: home price $300,000 mortgage $3,000/mn.
Stats:
Credit scores - both between 600-650
Anticipated yearly income combined - 130k
Monthly credit card bills - $700
Interest rate - hoping for less than 7?
Down payment - between 10-15k
Home price - depends on what monthly mortgage will be.
I really think we will be able to afford at least a $2000 - $2500 monthly mortgage
Read more: How much will my mortgage be?
