# Home Expense Calculator

Document Sample

```					Home Ownership Expense Calculator

© 2005 Vertex42, LLC

v 1.1

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

\$ \$ \$

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

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

Estimated Tax Adjustment Note: This section only applies if you are itemizing your tax deductions
Estimated Monthly Mortgage Interest Monthly Tax Adjustment Monthly Expenses (tax-adjusted) \$1,051.42 \$445.97 \$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
Vertex42.com Loan Amount Annual Interest Rate Term of Loan (years) Loan Date
\$195,000 6.50% 30 4/9/2005
\$300,000 \$250,000 \$200,000 \$150,000 \$100,000

© 2005 Vertex42, LLC
Loan Balance Cumulative Principal Cumulative Interest

Mortgage Payment Total Interest Paid

\$1,232.53 \$ 248,711.75

\$50,000 \$-

0

50

100

150

200

Month 250

300

350

400

Month
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36

Due Date
5/9/2005 6/9/2005 7/9/2005 8/9/2005 9/9/2005 10/9/2005 11/9/2005 12/9/2005 1/9/2006 2/9/2006 3/9/2006 4/9/2006 5/9/2006 6/9/2006 7/9/2006 8/9/2006 9/9/2006 10/9/2006 11/9/2006 12/9/2006 1/9/2007 2/9/2007 3/9/2007 4/9/2007 5/9/2007 6/9/2007 7/9/2007 8/9/2007 9/9/2007 10/9/2007 11/9/2007 12/9/2007 1/9/2008 2/9/2008 3/9/2008 4/9/2008

Interest
1,056.25 1,055.30 1,054.34 1,053.37 1,052.40 1,051.42 1,050.44 1,049.46 1,048.46 1,047.47 1,046.47 1,045.46 1,044.44 1,043.43 1,042.40 1,041.37 1,040.34 1,039.29 1,038.25 1,037.20 1,036.14 1,035.07 1,034.00 1,032.93 1,031.85 1,030.76 1,029.67 1,028.57 1,027.46 1,026.35 1,025.24 1,024.11 1,022.98 1,021.85 1,020.71 1,019.56

Cumulative Interest
1,056.25 2,111.55 3,165.88 4,219.25 5,271.65 6,323.07 7,373.52 8,422.97 9,471.44 10,518.90 11,565.37 12,610.83 13,655.27 14,698.70 15,741.10 16,782.47 17,822.80 18,862.10 19,900.35 20,937.54 21,973.68 23,008.75 24,042.76 25,075.68 26,107.53 27,138.29 28,167.96 29,196.53 30,223.99 31,250.35 32,275.58 33,299.69 34,322.68 35,344.53 36,365.24 37,384.80

Principal
176.28 177.24 178.20 179.16 180.13 181.11 182.09 183.08 184.07 185.06 186.07 187.08 188.09 189.11 190.13 191.16 192.20 193.24 194.28 195.34 196.40 197.46 198.53 199.60 200.69 201.77 202.87 203.96 205.07 206.18 207.30 208.42 209.55 210.68 211.82 212.97

Cumulative Principal
\$ 176.28 353.52 531.72 710.88 891.01 1,072.12 1,254.21 1,437.29 1,621.36 1,806.42 1,992.49 2,179.56 2,367.65 2,556.76 2,746.89 2,938.05 3,130.25 3,323.49 3,517.77 3,713.11 3,909.51 4,106.97 4,305.49 4,505.10 4,705.78 4,907.56 5,110.42 5,314.39 5,519.45 5,725.63 5,932.93 6,141.35 6,350.90 6,561.58 6,773.41 6,986.38

Balance
195,000.00 194,823.72 194,646.48 194,468.28 194,289.12 194,108.99 193,927.88 193,745.79 193,562.71 193,378.64 193,193.58 193,007.51 192,820.44 192,632.35 192,443.24 192,253.11 192,061.95 191,869.75 191,676.51 191,482.23 191,286.89 191,090.49 190,893.03 190,694.51 190,494.90 190,294.22 190,092.44 189,889.58 189,685.61 189,480.55 189,274.37 189,067.07 188,858.65 188,649.10 188,438.42 188,226.59 188,013.62

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