Single Family Housing Development Budget Template

Dev. Budget SINGLE FAMILY HOUSING DEVELOPMENT Development Budget DEVELOPMENT BUDGET ITEM COST % Total ACQUISITION Building Acquisition 0 Land Acquisition CONSTRUCTION Construction/Rehab (see schedule) 0 Landscaping 0 Permits 0 Clearance and Demoliton 0 Utility Connections & Tap Fees 0 Contingency 0 INFRASTRUCTURE Streets and Sidewalks 0 Water and Sewer 0 Stormwater & Drainage 0 PROFESSIONAL FEES Site Planning 0 Architect & Engineer 0 RE Attorney 0 Consultant 0 Survey 0 Market Study 0 Environmental 0 Organization Expense 0 FINANCE COSTS Const. Loan Interest 0 Const. Origination 0 Appraisal 0 Const. Insurance 0 Property Taxes 0 SOFT COSTS Marketing 0 Other 0 DEVELOPER FEE TOTAL DEV COST 0 Constr./Rehab Costs Model Number Size Cost/Sq Ft Unit Cost # Units Total Sales Price 1 0 0 0 0 0 -2 0 0 0 0 0 -3 0 0 0 4 0 0 0 5 0 0 0 6 0 0 0 7 0 0 0 Total 0 0 0 0 Project: Page 1Profit & Loss PROFIT AND LOSS STATEMENT Project: REVENUE # Units Price Total Sale of Housing Units 0 -$ -$ Sale of Housing Units 0 -$ -$ Sale of Housing Units 0 -$ -$ Sale of Housing Units 0 -$ -$ Sale of Housing Units 0 -$ -$ Sale of Housing Units 0 -$ -$ Sale of Housing Units 0 -$ -$ Total 0 -$ -$ Less Selling Costs 4.00% Percent -$ TOTAL REVENUE -$ CONSTRUCTION INTEREST Annual Interest 1.00% Number of Months 1 Costs -$ x Monthly Interest Rate 0.08% x Number of Months 1 = Total Interest -$ COSTS Property Acquisition -$ Unit Construction -$ Other Construction -$ Infrastructure -$ Professional Fees -$ Finance Costs -$ Soft Costs -$ Other Costs -$ Developer Fee -$ TOTAL -$ TOTAL REVENUE -$ -TOTAL COSTS -$ = PROFIT (LOSS) -$ PROJECTED PROFIT 0% Percent -$ -ACTUAL PROFIT -$ = DEVELOPERS SUBSIDY -$ 0 Page 2SINGLE FAMILY HOUSING DEVELOPMENT Cash Flow Analysis % Debt % City Grant Project #s Acquisition 100% 0% Construction cost $0 Unit Construction 100% 0% Sales price $0 Other Construction 100% 0% Sales expense 4.0% Infrastructure 100% 0% Construction interest rate 1.0% Professional Fees 100% 0% Months to construct 1 Cnstruction Interest 100% 0% Months to sell 0 Other Finance Costs 100% 0% Soft Costs 100% 0% Other Costs 100% 0% Month 1 2 3 4 5 6 7 8 9 10 11 12 1 # Housing Starts 0 2 3 3 1 0 0 0 0 0 0 0 Cumulative 2 Project Expenses Budget Expenditure Property Acquisition $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Unit Construction $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Other Construction $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Infrastructure $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Professional Fees $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Construction Interest $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Other Finance Costs $0 $0 $0 Soft Costs $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Other Costs $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Total Monthly Expenses $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 2a Cumulative Project Expenses $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 3 Number of New Constr. Sales 0 2 3 3 1 0 0 0 0 0 0 0 4 Project Revenue Sales $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 -Cost of Sale $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Net Monthly Revenue $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 5 Cash Flow Net Monthly Revenue (4) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 -Total Monthly Expenses (2) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Monthly Cash Flow (+ go to 6, -go to 7) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 6 Uses of Cash Flow (CF) 6a Debt Repayment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 6b +Equity Repayment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Total Uses of Monthly CF $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 7 Sources of Investment 7a Debt $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 7b +Owner Equity $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 7c +City Grant $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Total Sources of Monthly Investment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 INVESTMENT SUMMARY Outstanding Debt Previous Month's Outstanding Debt $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 -CF for Debt Repayment (#6a) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 +This Month's Debt Invested (#7a) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 OUTSTANDING DEBT $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Equity Invested Previous Month's Outstanding Equity $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 -CF for Equity Repayment (#6b) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 +This Month's Equity Invested (#7b) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 EQUITY INVESTED $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Project Cash Balance Cumulative Project Revenue ( #4) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 -Cumulative Expenses $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 = Cash Balance $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0Permanent Mortgage PERMANENT MORTGAGE ANALYSIS Project: Buyer: House Information Purchase Price Appraised Value Bank Requirements Family Information Bank Ratio Front End 29% Annual Income $51,000 ####### Monthly Income Back End 38% Annual Taxes $900 $75.00 Monthly Taxes Annual Interest Rate 7.50% Annual Insurance $700 $58.33 Monthly Insurance Loan Term (Years) 30 Total Credit Card Debt $2,000 Constant Annual Percent 0.0839 Loan to Value 95% Closing Costs $2,000 Debt Capacity Monthly Income x Front Ratio 1,232.50 $ Debt Service for Loan Using LVR $0.00 -Taxes 75.00 $ + Monthly Taxes $75.00 -Insurance 58.33 $ + Monthly Insurance $58.33 -Other Monthly -$ = Monthly Mortgage Payment $133.33 = Max. Monthly Debt Service-Front 1,099.17 $ Monthly Income x Back Ratio 1,615.00 $ -Taxes 75.00 $ -Insurance 58.33 $ -Other -$ -Loan Payments 250.00 $ -Credit Card Payments 100.00 $ -Other Monthly 100.00 $ = Max. Monthly Debt Service-Back 1,031.67 $ Maximum Monthly Debt Service 1,031.67 $ Maximun Loan Using Front/Back 147,547 $ Maximum Loan Using LVR -$ Maximum Loan -$ Permanent Mortgage Purchase Price -$ Loan Amount -$ Equity Needed -$ Closing Costs 2,000 $ Cash Available from Buyer 1,000 $ Homebuyer Subsidy 1,000 $ Leftville Smith Page 4