Mortgage Affordability Report

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Mortgage Budget Summary

Based on your current monthly income of $3,500.00 (after tax) and your expenses and desired savings, you have $2,400.00 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 $2,400.00 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: Consult with a Mortgage Specialist

Term Home Value Mortgage Loan Tax Ins. PMI Total IR MLM Investment Interest AC
10M $298,000.00 $198,000.00 $2,100.10 $248.33 $50.00 $82.50 $2,398.43 5% 120 $352,011.66 $54,011.66
10B $298,000.00 $198,000.00 $1,050.05 $114.62 $23.08 $38.08 $1,187.74 5% 103 $343,569.40 $45,569.40
15M $356,000.00 $256,000.00 $2,024.43 $296.67 $50.00 $106.67 $2,371.10 5% 180 $464,397.70 $108,397.70
15B $356,000.00 $256,000.00 $1,012.22 $136.92 $23.08 $49.23 $1,172.22 5% 154 $446,967.61 $90,967.61
20M $399,000.00 $299,000.00 $1,973.27 $332.50 $50.00 $124.58 $2,355.77 5% 240 $573,584.24 $174,584.24
20B $399,000.00 $299,000.00 $986.64 $153.46 $23.08 $57.50 $1,163.18 5% 205 $544,845.78 $145,845.78
25M $431,000.00 $331,000.00 $1,934.99 $359.17 $50.00 $137.92 $2,344.16 5% 300 $680,497.91 $249,497.91
25B $431,000.00 $331,000.00 $967.50 $165.77 $23.08 $63.65 $1,156.35 5% 256 $638,614.65 $207,614.65
30M $455,000.00 $355,000.00 $1,905.72 $379.17 $50.00 $147.92 $2,334.89 5% 360 $786,058.03 $331,058.03
30B $455,000.00 $355,000.00 $952.86 $175.00 $23.08 $68.27 $1,150.94 5% 307 $729,569.74 $274,569.74
35M $473,000.00 $373,000.00 $1,882.49 $394.17 $50.00 $155.42 $2,326.66 5% 420 $890,643.71 $417,643.71
35B $473,000.00 $373,000.00 $941.25 $181.92 $23.08 $71.73 $1,146.25 5% 358 $818,421.87 $345,421.87
40M $487,000.00 $387,000.00 $1,866.10 $405.83 $50.00 $161.25 $2,321.93 5% 480 $995,728.41 $508,728.41
40B $487,000.00 $387,000.00 $933.05 $187.31 $23.08 $74.42 $1,143.43 5% 409 $906,804.15 $419,804.15
45M $497,000.00 $397,000.00 $1,850.08 $414.17 $50.00 $165.42 $2,314.25 5% 540 $1,099,041.58 $602,041.58
45B $497,000.00 $397,000.00 $925.04 $191.15 $23.08 $76.35 $1,139.27 5% 461 $992,916.47 $495,916.47
50M $505,000.00 $405,000.00 $1,839.26 $420.83 $50.00 $168.75 $2,310.09 ~ $2,478.84 5% 600 $1,203,557.21 $698,557.21
50B $505,000.00 $405,000.00 $919.63 $194.23 $23.08 $77.88 $1,136.94 ~ $1,214.82 5% 512 $1,079,634.62 $574,634.62

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