Mortgage Affordability Report

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Mortgage Budget Summary

Based on your current monthly income of $3,000.00 (after tax) and your expenses and desired savings, you have $1,725.00 remaining budget per month to be invested into mortgage. Consult with a Mortgage Specialist

Down Payment $
Estimated Interest Rate %
Estimated Property Tax %
Estimated PMI %
Estimated Insurance /mo $
Monthly Salary after tax $
Food Expense /mo $
Transportation Expense $
Entertainment Expense /mo $
Education Expense /mo $
Healthcare Expense /mo $
Technology Expense /mo $
Other Expense /mo $
Savings /mo $

Affordable Mortgage Comparison

If you spend the all of the remaining budget of $1,725.00 into financing a mortgage, with your down payment of $0.00, you will be able to afford the homes and mortgages below on different loan terms: Consult with a Mortgage Specialist

Term Home Value Mortgage Loan Tax Ins. PMI Total IR MLM Investment Interest AC
10M $70,000.00 $70,000.00 $666.27 $58.33 $1,000.00 $0.00 $1,724.60 ~ $1,724.60 2.7% 120 $79,952.98 $9,952.98
10B $70,000.00 $70,000.00 $333.14 $26.92 $461.54 $0.00 $821.60 ~ $821.60 2.7% 103 $78,438.92 $8,438.92
15M $95,000.00 $95,000.00 $642.43 $79.17 $1,000.00 $0.00 $1,721.60 ~ $1,721.60 2.7% 180 $115,637.88 $20,637.88
15B $95,000.00 $95,000.00 $321.22 $36.54 $461.54 $0.00 $819.30 ~ $819.30 2.7% 154 $112,438.40 $17,438.40
20M $116,000.00 $116,000.00 $626.05 $96.67 $1,000.00 $0.00 $1,722.72 ~ $1,722.72 2.7% 240 $150,252.53 $34,252.53
20B $116,000.00 $116,000.00 $313.03 $44.62 $461.54 $0.00 $819.18 ~ $819.18 2.7% 205 $144,854.37 $28,854.37
25M $133,000.00 $133,000.00 $610.14 $110.83 $1,000.00 $0.00 $1,720.97 ~ $1,720.97 2.7% 300 $183,043.43 $50,043.43
25B $133,000.00 $133,000.00 $305.07 $51.15 $461.54 $0.00 $817.76 ~ $817.76 2.7% 256 $175,039.11 $42,039.11
30M $148,000.00 $148,000.00 $600.28 $123.33 $1,000.00 $0.00 $1,723.61 ~ $1,723.61 2.7% 360 $216,102.41 $68,102.41
30B $148,000.00 $148,000.00 $300.14 $56.92 $461.54 $0.00 $818.60 ~ $818.60 2.7% 307 $205,061.93 $57,061.93
35M $160,000.00 $160,000.00 $589.29 $133.33 $1,000.00 $0.00 $1,722.62 ~ $1,722.62 2.7% 420 $247,500.60 $87,500.60
35B $160,000.00 $160,000.00 $294.65 $61.54 $461.54 $0.00 $817.73 ~ $817.73 2.7% 358 $233,139.88 $73,139.88
40M $170,000.00 $170,000.00 $579.55 $141.67 $1,000.00 $0.00 $1,721.22 ~ $1,721.22 2.7% 480 $278,185.09 $108,185.09
40B $170,000.00 $170,000.00 $289.78 $65.38 $461.54 $0.00 $816.70 ~ $816.70 2.7% 409 $260,229.23 $90,229.23
45M $179,000.00 $179,000.00 $573.00 $149.17 $1,000.00 $0.00 $1,722.17 ~ $1,722.17 2.7% 540 $309,417.72 $130,417.72
45B $179,000.00 $179,000.00 $286.50 $68.85 $461.54 $0.00 $816.88 ~ $816.88 2.7% 461 $287,549.44 $108,549.44
50M $187,000.00 $187,000.00 $568.30 $155.83 $1,000.00 $0.00 $1,724.13 ~ $1,724.13 2.7% 600 $340,979.86 $153,979.86
50B $187,000.00 $187,000.00 $284.15 $71.92 $461.54 $0.00 $817.61 ~ $817.61 2.7% 512 $314,919.96 $127,919.96

Report Legend

  • Term - Length of mortgage in years and different payment methods. (M = monthly, B = bi-weekly)
  • Home Value - Value of the home at purchase. (mortgage loan amount + downpayment)
  • Mortgage - Total amount borrowed (mortgage) from your financial institute.
  • Loan - Loan pay back amount per payment.
  • Tax - Property tax amount per payment.
  • Ins. - Property insurance amount per payment.
  • PMI - PMI amount per payment as long as the remaining mortgage is greater or equal to 80% of the property value.
  • Total - Total amount per payment you need to pay to finance your home.
  • IR - Interest rate of mortgage.
  • MLM - "Mortgage Length in Month". Actual length of mortgage in months.
  • Investment - Sum of down payment, loan Amount, and interest paid for the mortgage period. This value does not include the total PMI, insurance, and property tax paid.
  • Interest - Total amount of interest paid in owning the property.
  • AC - Amortization Chart (also known as Amortization Schedule or Amortization Table)
Down Payment $
Estimated Interest Rate %
Estimated Property Tax %
Estimated PMI %
Estimated Insurance /mo $
Monthly Salary after tax $
Food Expense /mo $
Transportation Expense $
Entertainment Expense /mo $
Education Expense /mo $
Healthcare Expense /mo $
Technology Expense /mo $
Other Expense /mo $
Savings /mo $

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Consult with a Mortgage Specialist