Sunday, August 14, 2016

Infographic: Buy an Indianapolis House: How Interest Rates and Credit Scores Affect Your Monthly Payment

by Lisa Treadwell

So you want to buy a house in Indianapolis or somewhere across Central Indiana? Awesome! As an Indianapolis REALTOR, that's music to my ears. And you should want to buy.

But you do need to understand the difference your interest rate makes not only in your monthly payment and total cost, but also in the house you can afford. That's important because it could make a difference in whether you can be approved for a mortgage for that perfect house you've spotted for sale in Broad Ripple or Carmel or Zionsville or downtown.

How to Keep a Mortgage Payment Under $1,000 Monthly  

Perhaps you find these numbers a bit sobering. But now you know the answer to the questions "How much house payment can I afford?" and "How much mortgage can I afford?"

How Your Credit Score Affects Mortgage Interest Rates

And so, there's that too.