Check out today's mortgage rates!

Bankrate.com

For more information on how to get these great rates for yourself, call Rebekah Radice, Regional Manager and loan originator with The Front Range Group at Waterstone Mortgage. 719-638-9840.

Don't forget to mention Stephanie Danford sent you.

Now see how much you can afford...

(It's a rough rule-of-thumb, but it will get you close.)

Take your monthly income and subtract your monthly, minimum loan and credit card payments. Now multiply that number by 30%. This will be the approximate amount a lender will allow your payment to be each month.

For example: if you make $4000 per month and have $1000 in minimum payments per month, you have $3000 disposable income per month. Now, 30% of that disposable income is $900. Therefore, $900 is approximately what a lender will approve for you to spend on your mortgage every month.

Now estimate a monthly mortgage payment...

(Again, it's rough math, but it will still get you close.)

First, assume your rate from the BankRate list on the left. Next, multiply that rate by 100,000. This is your approximate monthly payment per $100,000 in mortgage. Now multiply that number by how many $100,000's in mortgage you would like to borrow (for a $150,000 mortgage, multiply the monthly estimate by 1.5, for a $200,000 mortgage, multiply the monthly estimate by 2.0, and so on). Finally, don't forget to add property taxes, homeowner's insurance, and any association dues for the property you're interested in.

For example: If your rate is 6.5% and you would like to borrow $175,000, then multiply $650 (6.5% X 100,000 = 650) by 1.75 and then add taxes, insurance and HOA dues. Now you have a rough idea of what your mortgage will run you every month.