Mortgage Affordability Report

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Mortgage Budget Summary

Based on your current monthly income of $5,400.00 (after tax) and your expenses and desired savings, you have $4,120.00 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 $4,120.00 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 $369,000.00 $369,000.00 $3,605.83 $307.50 $50.00 $153.75 $3,963.33 ~ $4,117.08 3.25% 120 $432,699.86 $63,699.86
10B $369,000.00 $369,000.00 $1,802.92 $141.92 $23.08 $70.96 $1,967.92 ~ $2,038.88 3.25% 103 $422,943.69 $53,943.69
15M $491,000.00 $491,000.00 $3,450.10 $409.17 $50.00 $204.58 $3,909.27 ~ $4,113.85 3.25% 180 $621,018.66 $130,018.66
15B $491,000.00 $491,000.00 $1,725.05 $188.85 $23.08 $94.42 $1,936.97 ~ $2,031.40 3.25% 154 $600,671.78 $109,671.78
20M $587,000.00 $587,000.00 $3,329.44 $489.17 $50.00 $244.58 $3,868.61 ~ $4,113.19 3.25% 240 $799,065.39 $212,065.39
20B $587,000.00 $587,000.00 $1,664.72 $225.77 $23.08 $112.88 $1,913.57 ~ $2,026.45 3.25% 205 $765,257.22 $178,257.22
25M $664,000.00 $664,000.00 $3,235.78 $553.33 $50.00 $276.67 $3,839.11 ~ $4,115.78 3.25% 300 $970,733.92 $306,733.92
25B $664,000.00 $664,000.00 $1,617.89 $255.38 $23.08 $127.69 $1,896.35 ~ $2,024.04 3.25% 256 $921,021.16 $257,021.16
30M $726,000.00 $726,000.00 $3,159.60 $605.00 $50.00 $302.50 $3,814.60 ~ $4,117.10 3.25% 360 $1,137,455.24 $411,455.24
30B $726,000.00 $726,000.00 $1,579.80 $279.23 $23.08 $139.62 $1,882.11 ~ $2,021.72 3.25% 307 $1,069,780.55 $343,780.55
35M $776,000.00 $776,000.00 $3,095.75 $646.67 $50.00 $323.33 $3,792.42 ~ $4,115.75 3.25% 420 $1,300,216.25 $524,216.25
35B $776,000.00 $776,000.00 $1,547.88 $298.46 $23.08 $149.23 $1,869.42 ~ $2,018.65 3.25% 358 $1,212,851.56 $436,851.56
40M $818,000.00 $818,000.00 $3,047.39 $681.67 $50.00 $340.83 $3,779.06 ~ $4,119.89 3.25% 480 $1,462,745.89 $644,745.89
40B $818,000.00 $818,000.00 $1,523.70 $314.62 $23.08 $157.31 $1,861.39 ~ $2,018.70 3.25% 409 $1,354,024.28 $536,024.28
45M $851,000.00 $851,000.00 $3,001.48 $709.17 $50.00 $354.58 $3,760.65 ~ $4,115.23 3.25% 540 $1,620,798.97 $769,798.97
45B $851,000.00 $851,000.00 $1,500.74 $327.31 $23.08 $163.65 $1,851.12 ~ $2,014.78 3.25% 461 $1,489,629.99 $638,629.99
50M $880,000.00 $880,000.00 $2,969.31 $733.33 $50.00 $366.67 $3,752.64 ~ $4,119.31 3.25% 600 $1,781,586.64 $901,586.64
50B $880,000.00 $880,000.00 $1,484.66 $338.46 $23.08 $169.23 $1,846.20 ~ $2,015.43 3.25% 512 $1,626,543.87 $746,543.87

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