Is Home Ownership Realistic?

Over the past ten years, the housing industry has seen twists and turns, unexpectedly crashing, leaving a large number of people underwater on their homes, furious with lenders and nationwide distrust of home ownership. Because of this, along with the collapse of the job economy, people are wondering, is owning a home even realistic?

Find Out for Yourself

The answer is a resounding yes. New rules have created a safer environment for borrowers and created more regulations that must be followed by lenders, or they’ll risk their federal lending protection. Sure, these rules come with tradeoffs, but ultimately, those trade offs also ensure better conditions for the borrower. Before, lenders could allow you to borrow as much as they wanted, without thinking of how the borrower may be burdened and unable to pay back their loan. Today, we’re in a better environment for purchasing a home - banks are being held more accountable and borrowers don’t feel the need to take out such large, risky home loans.

Try Out the Mortgage Calculator

Simply input the total amount of the home you want to live in, the going interest rate, and the length of your loan terms to see if you can afford the mortgage payment.