Mortgage Affordability Report

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Mortgage Budget Summary

Based on your current monthly income of $13,000.00 (after tax) and your expenses and desired savings, you have $4,625.00 remaining budget per month to be invested into mortgage.

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 $4,625.00 into financing a mortgage, with your down payment of $100,000.00, you will be able to afford the homes and mortgages below on different loan terms:

Term Home Value Mortgage Loan Tax Ins. PMI Total IR MLM Investment Interest AC
10M $459,000.00 $359,000.00 $3,720.62 $994.50 $125.00 $0.00 $4,840.12 4.5% 120 $546,474.26 $87,474.26
10B $459,000.00 $359,000.00 $1,860.31 $459.00 $57.69 $0.00 $2,377.00 4.5% 103 $532,878.18 $73,878.18
15M $558,000.00 $458,000.00 $3,503.67 $1,209.00 $125.00 $0.00 $4,837.67 ~ $4,837.67 4.5% 180 $730,660.47 $172,660.47
15B $558,000.00 $458,000.00 $1,751.84 $558.00 $57.69 $0.00 $2,367.53 ~ $2,367.53 4.5% 154 $703,100.15 $145,100.15
20M $629,000.00 $529,000.00 $3,346.72 $1,362.83 $125.00 $0.00 $4,834.55 ~ $4,834.55 4.5% 240 $903,211.65 $274,211.65
20B $629,000.00 $529,000.00 $1,673.36 $629.00 $57.69 $0.00 $2,360.05 ~ $2,360.05 4.5% 205 $858,453.61 $229,453.61
25M $682,000.00 $582,000.00 $3,234.95 $1,477.67 $125.00 $0.00 $4,837.62 ~ $4,837.62 4.5% 300 $1,070,483.51 $388,483.51
25B $682,000.00 $582,000.00 $1,617.48 $682.00 $57.69 $0.00 $2,357.17 ~ $2,357.17 4.5% 256 $1,005,855.20 $323,855.20
30M $722,000.00 $622,000.00 $3,151.58 $1,564.33 $125.00 $0.00 $4,840.91 ~ $4,840.91 4.5% 360 $1,234,569.75 $512,569.75
30B $722,000.00 $622,000.00 $1,575.79 $722.00 $57.69 $0.00 $2,355.48 ~ $2,355.48 4.5% 307 $1,147,905.79 $425,905.79
35M $752,000.00 $652,000.00 $3,085.63 $1,629.33 $125.00 $0.00 $4,839.96 ~ $4,839.96 4.5% 420 $1,395,966.24 $643,966.24
35B $752,000.00 $652,000.00 $1,542.82 $752.00 $57.69 $0.00 $2,352.51 ~ $2,352.51 4.5% 358 $1,285,587.31 $533,587.31
40M $775,000.00 $675,000.00 $3,034.55 $1,679.17 $125.00 $0.00 $4,838.72 ~ $4,838.72 4.5% 480 $1,556,583.59 $781,583.59
40B $775,000.00 $675,000.00 $1,517.28 $775.00 $57.69 $0.00 $2,349.97 ~ $2,349.97 4.5% 409 $1,421,081.94 $646,081.94
45M $793,000.00 $693,000.00 $2,995.66 $1,718.17 $125.00 $0.00 $4,838.83 ~ $4,838.83 4.5% 540 $1,717,655.83 $924,655.83
45B $793,000.00 $693,000.00 $1,497.83 $793.00 $57.69 $0.00 $2,348.52 ~ $2,348.52 4.5% 461 $1,555,848.50 $762,848.50
50M $807,000.00 $707,000.00 $2,965.09 $1,748.50 $125.00 $0.00 $4,838.59 ~ $4,838.59 4.5% 600 $1,879,051.39 $1,072,051.39
50B $807,000.00 $707,000.00 $1,482.55 $807.00 $57.69 $0.00 $2,347.24 ~ $2,347.24 4.5% 512 $1,690,046.65 $883,046.65

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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