Home Ownership Expense Calculator © 2005 Vertex42, LLC v 1.

1
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Mortgage Information and Assumptions

Purchase Price (Value) $ 200,000
Down Payment $ 5,000
Length of Mortgage (years) 30
Yearly Mortgage Interest Rate 6.50%
Yearly Property Tax 1.80%
Yearly Homeowners Insurance 0.40%
Monthly Private Mortgage Insurance (PMI) $ 150
Yearly Maintenance $ 700
Yearly Improvements $ 1,300
Income Tax Rate 33.0%

Monthly Housing Payment

Loan Amount $ 195,000.00
Mortgage Payment (PI) $1,232.53
Property Tax (T) $300.00
Insurance (I) $216.67
Monthly Housing Payment (PITI) $1,749.20

Maintenance and Improvements

Maintenance $58.33
Improvements $108.33
Monthly Home Ownership Expense $1,915.87

Estimated Tax Adjustment

Note: This section only applies if you are itemizing your tax deductions
Estimated Monthly Mortgage Interest $1,051.42
Monthly Tax Adjustment $445.97
Monthly Expenses (tax-adjusted) $1,469.90

Note: The calculations in this spreadsheet are only estimates, and we do not guarantee
the results. Please consult your financial advisor or lending institution before making
any final financial decisions.
 What home can I afford?

First, decide what monthly expense you can afford.

Then use goal seek (Tools > Goal Seek...) as
shown in the figure below:

Make comparisons

To compare different scenarios, just copy the

range C5:C33 and paste it in D5:D33
Amortization Table © 2005 Vertex42, LLC
Vertex42.com
$12
Loan Balance
Loan Amount $195,000 $10 Cumulative
Annual Interest Rate 6.50% Principal
Term of Loan (years) 30
$8

Loan Date 4/9/2005 $6

$4

Mortgage Payment $1,232.53 $2

Total Interest Paid $ 248,711.75
$-
Month
0 2 4 6 8 10 12

Due Cumulative Cumulative

Month Date Interest Interest Principal Principal Balance
$ 195,000.00
1 5/9/2005 1,056.25 1,056.25 176.28 176.28 194,823.72
2 6/9/2005 1,055.30 2,111.55 177.24 353.52 194,646.48
3 7/9/2005 1,054.34 3,165.88 178.20 531.72 194,468.28
4 8/9/2005 1,053.37 4,219.25 179.16 710.88 194,289.12
5 9/9/2005 1,052.40 5,271.65 180.13 891.01 194,108.99
6 10/9/2005 1,051.42 6,323.07 181.11 1,072.12 193,927.88
7 11/9/2005 1,050.44 7,373.52 182.09 1,254.21 193,745.79
8 12/9/2005 1,049.46 8,422.97 183.08 1,437.29 193,562.71
9 1/9/2006 1,048.46 9,471.44 184.07 1,621.36 193,378.64
10 2/9/2006 1,047.47 10,518.90 185.06 1,806.42 193,193.58
11 3/9/2006 1,046.47 11,565.37 186.07 1,992.49 193,007.51
12 4/9/2006 1,045.46 12,610.83 187.08 2,179.56 192,820.44
13 5/9/2006 1,044.44 13,655.27 188.09 2,367.65 192,632.35
14 6/9/2006 1,043.43 14,698.70 189.11 2,556.76 192,443.24
15 7/9/2006 1,042.40 15,741.10 190.13 2,746.89 192,253.11
16 8/9/2006 1,041.37 16,782.47 191.16 2,938.05 192,061.95
17 9/9/2006 1,040.34 17,822.80 192.20 3,130.25 191,869.75
18 10/9/2006 1,039.29 18,862.10 193.24 3,323.49 191,676.51
19 11/9/2006 1,038.25 19,900.35 194.28 3,517.77 191,482.23
20 12/9/2006 1,037.20 20,937.54 195.34 3,713.11 191,286.89
21 1/9/2007 1,036.14 21,973.68 196.40 3,909.51 191,090.49
22 2/9/2007 1,035.07 23,008.75 197.46 4,106.97 190,893.03
23 3/9/2007 1,034.00 24,042.76 198.53 4,305.49 190,694.51
24 4/9/2007 1,032.93 25,075.68 199.60 4,505.10 190,494.90
25 5/9/2007 1,031.85 26,107.53 200.69 4,705.78 190,294.22
26 6/9/2007 1,030.76 27,138.29 201.77 4,907.56 190,092.44
27 7/9/2007 1,029.67 28,167.96 202.87 5,110.42 189,889.58
28 8/9/2007 1,028.57 29,196.53 203.96 5,314.39 189,685.61
29 9/9/2007 1,027.46 30,223.99 205.07 5,519.45 189,480.55
30 10/9/2007 1,026.35 31,250.35 206.18 5,725.63 189,274.37
31 11/9/2007 1,025.24 32,275.58 207.30 5,932.93 189,067.07
32 12/9/2007 1,024.11 33,299.69 208.42 6,141.35 188,858.65
33 1/9/2008 1,022.98 34,322.68 209.55 6,350.90 188,649.10
34 2/9/2008 1,021.85 35,344.53 210.68 6,561.58 188,438.42
35 3/9/2008 1,020.71 36,365.24 211.82 6,773.41 188,226.59
36 4/9/2008 1,019.56 37,384.80 212.97 6,986.38 188,013.62