Living in the era of technology is a marvelous thing, many things that were not available before are now available, like the on-line mortgage calculator. You no longer need to sit around and dream about owning a house without ever taking action towards it, because let’s face it we can’t all take time off our jobs to sit and chitchat with a loan officer about our mortgage calculators. Just how much time will he be willing to spend with you, and how many papers do you need to provide before you get the answer, too much of a hassle! But now, from the comfort of your home, at any time, you can get all the answers you want and make that dream come true. You don’t need a lot of information; you know your financial capabilities. All you need now is to decide on a house, see how much it costs, look up the interest rates on the internet and there you have it. Your monthly installment should be less than 30% of your gros income.