The ‘math’ part of buying a condo can be pretty daunting, but unfortunately, trying to figure out how much condo you can afford is the first step toward actually purchasing one. That means a.) getting pre-approved from a mortgage lender before you start traipsing around town, and b.) translating the price of your dream condo into a monthly payment to see if you can avoid becoming a foreclosure statistic in your first year.
If you scroll down this page and look to the right, you’ll find an ingenious little widget that will do all of that work for you in about a nano-second. Just plug in the interest rate, the loan $$, number of loan years and bingo, there’s your monthly payment! If you’d like to get pre-approved and don’t already have a mortgage lender, let us know and we’ll refer you to one of our favorites!