We agree with the contractor that the damages resulting from increased interest rates are consequential damages. Increases in interest rates are not caused by delays in completion of construction contracts.
So you can multiply your current rent by 1.33 to arrive at a rough estimate of a mortgage payment. Hereâs an example: If you currently pay $1,500 per month in rent, you should be able to comfortably afford a $2,000 monthly mortgage payment after factoring in the tax benefits of homeownership.
$0. Based on your income, expenses, and the loan you selected, the amount above represents the most you can comfortably afford to pay for a home. This assumes that your total costs for your loan payments (principal and interest), taxes, and insurance should not be higher than 45% of your monthly income.