Mortgage Affordability Seth and Alexandra Moore of Elk Grove Village, Illinois have an annual income of $104,000 and want to buy a home. Currently, mortgage rates are 4.0 percent. The Moores want to take out a mortgage for 30 years. Real estate taxes are estimated to be $5,040 per year for homes similar to what they would like to buy, and homeowner's insurance would be about $1,620 per year.
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