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Then it calculates it for you and gives you a price range.
After figuring out my price range I had to research how much I would have to take a loan out for, how long I want to take the loan out for, and what the interest rates are. I figure that I would, by the time I am going to buy a house, be able to afford a $20,000...
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This would mean I would need to take out a $219,000.00 loan. If I took out a loan for 15 years the interest rate in my area would be 4.39% and I would only be able to afford a house for just under $175,00.00. If I took out a 30 year loan the interest would be 5.31% and I would be able to buy a house for just under $245,00...
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