You dream of owning a house—or lowering your current mortgage plans. Now it's time to come back to earth and find out how much you can really afford. Use this worksheet to see how much of a mortgage you can handle.
With interest rates on 15-year fixed-rate mortgages at record lows right now, it's a great time for home buyers and refinancers to consider a shorter-term mortgage.
Please note: This is general information and is not intended to be legal advice. You should consult with your own financial advisor before making any major financial decisions, including investments or changes to your portfolio, and a qualified legal professional before executing any legal documents or taking any legal action. Harpo Productions, Inc., OWN: Oprah Winfrey Network, Discovery Communications LLC and their affiliated companies and entities are not responsible for any losses, damages or claims that may result from your financial or legal decisions.