The Right Time for a Mortgage

The time to buy a home is now! With the mortgage rates as low as they are, homeowners have access to some of the most competitive interest rates in the past 20 years. But how can you know whether it’s really the right time for you? Calculating your expenses and understanding when it makes sense to take on a new mortgage will help answer that question. Here you can find free calculator for calculating your expenses and we’ll show you how to use them so that you can decide if now is the right time.

The first thing you want to do is determine the average monthly expenses of your current home. This includes things like:

Rent/mortgage (including taxes and insurance)

Utilities like electricity, gas, cable TV etc.

Cleaning services if you don’t clean yourself or have a spouse who does that for you (and consider adding in pet care as well). Be sure to account for any additional utility costs that are likely to come with your new mortgage! If there are any other regular household bills such as groceries or commuting costs feel free to list them out too so we can get an accurate picture of how much money comes into your home each month.

Transportation costs which would include car payments but also public transportation if available where you live. Include all commuting costs here even if it’s not something you spend every day because those extra days add up! If there are any other regular household bills that aren’t included above feel free to list them out too so we can get an accurate picture of how much money comes into your home each month.