These mortgage calculations, which you perform before even looking for a house, are related to affordability. For example, if you were looking to mortgage a house in Pocono, you would need to consider the going rate of properties in Pocono and check your finances/ funds to find out what kind of house you can afford (if any). At the same time your mortgage calculations will also need to include what mortgage loan amount you can get and at what interest rate. You can use a website fron the Internet to get a number of mortgage offers (and that too in very short time). You can also calculate your mortgage payments and even get your complete amortization schedule by using the mortgage calculators on a website (e.g. there are quick mortgage payment calculators available on the Internet). Once you are done with all your mortgage calculations, the viability of going for your Pocono mortgage will become very clear to you. Another consideration might be the economic indicators and reports on the trend for mortgage interest rates i.e. reports on whether they are expected to rise or fall in the near future. Putting everything into perspective, you can then decide on whether to go for buying the house now or later (however, do not forget to take into consideration the fact that there might be an appreciation in the property rates and you might need more money to buy a property of the same type).