Not Financial Advice: On a $125,000, 30-year mortgage at 5% annual interest rate, your monthly payments will be $671.03.
Your total payments would be $241,570.80 and your total interest would be $116,570.80.
Your yearly income and monthly budget helps determine how much you may be allowed to borrow. Use U.S. Bank's Mortgage Qualification Calculator to determine how much you may be able to borrow.
Should you rush to get a mortgage in 2014, or take your time? Here are Bankrate's top 10 mortgage tips for 2014.
Buying a home is one of the biggest decisions you can make, and it’s likely the largest purchase you will ever make. So it’s no surprise that there are multiple ways you can trip up. Getting a mortgage is about more than having your offer accepted and signing on the dotted line. (Or hundreds of dotted lines, which is what it feels like at the closing table.)
Here, Learnvest.com experts give you tips and advice and reveal the top seven landmines in the mortgage process and how to avoid them.