We agree with the contractor that the damages resulting from increased interest rates are consequential damages. Increases in interest rates are not caused by delays in completion of construction contracts.
So you can multiply your current rent by 1.33 to arrive at a rough estimate of a mortgage payment. Hereâs an example: If you currently pay $1,500 per month in rent, you should be able to comfortably afford a $2,000 monthly mortgage payment after factoring in the tax benefits of homeownership.
Well, it is actually broadly possible to access a mortgage with a deposit amounting to 5% of the overall purchase price from some financial institutions. So, to put that into concrete numbers, you could theoretically borrow $380,000 with a deposit of $19,000.hink of a $400,000 house. If a bank lends you $380,000, and you repay $40,000 but then fall prey to financial woes and canât make your repayments, the bank is then $340,000 out of pocket. They would seize your house â but they may only be able to sell it for $330,000. Theyâd still be ten grand out of pocket.