Should I Move?
Find out if you can afford to move by comparing your current equity, new mortgage, and monthly payments.
Inputs
Current Equity
$500,000
Net Sale Proceeds
$455,000
New Mortgage
$645,000
Current Payment
$2,456
New Payment
$3,961
Payment Change
+$1,505
GDS Ratio
40%
TDS Ratio
44%
Recommendation
What This Means
Selling your current home at $900,000 nets you $455,000 after ~5% selling costs. Applied to your target home at $1,100,000, you would need a new mortgage of $645,000. Your monthly payment would increase by $1,505 per month.
RAZZ Insight
The numbers suggest this move could put you under financial pressure. Your GDS ratio of 40% exceeds comfortable limits. Consider a less expensive target, paying down debt first, or waiting for your current home to appreciate further.
Results are estimates only and may vary based on lender policies, market conditions, and individual circumstances. Consult a mortgage broker or financial advisor for accurate figures.
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