• Your monthly payments will probably be 0.75% to 1.15% of the purchase price. On a $150,000 home that's $1125 to $1725/mo.  This includes taxes and insurance. We'll cover how to estimate your monthly payment more accurately on the next page.
• The bigger your down payment, the lower the monthly payments.
• The lower the interest rate, the lower the monthly payments.
• The longer the loan, the lower your monthly payments. But it's better to get a shorter loan so you pay it off quicker and save on interest, if you can afford the higher payments.
• Don't forget that you can lower your monthly obligation by renting out a room or two (or a whole side, if you buy a duplex).