The Total Budget is the best estimate of what the real cost of ownership is. Simply comparing the principal + interest PI to the Total Budget illustrates how much of a difference there can be.
Important Tip: Spending more of your income on housing than you really can/could afford can have a negative impact on lifestyle. For example, you may not be able to travel as much etc. Simply use the Mortgage Genie™ mortgage calculator to find the budget that fits your lifestyle, and present the printed report to all parties involved. This will make it clear to everyone exactly what you are willing to spend.
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