Home Ownership Expense Calculator

http://www.vertex42.com/ExcelTemplates/home-expense-calculator.html

2005 Vertex42 LLC

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
25.0%

[42]

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

[42]

Estimated Monthly Mortgage Interest

Monthly Tax Adjustment
Monthly Expenses (tax-adjusted)

$1,051.42
$337.86
$1,578.01

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
http://www.vertex42.com/ExcelTemplates/home-expense-calculator.html

2005 Vertex42 LLC

$300,000

Loan Amount
Annual Interest Rate
Term of Loan (years)
Loan Date

$195,000
6.50%

Loan Balance
Cumulative Principal

$250,000

Cumulative Interest

$200,000

[42]

30
4/9/2005

$150,000
$100,000

PI Mortgage Payment
Total Interest Paid

$1,232.53
$

248,711.75

$50,000
$0

Month

Due
Date

Interest

Cumulative
Interest

50

100

150

Principal

200

250
Month

300

350

195,000.00

Cumulative
Principal

400

Balance

5/9/2005

1,056.25

1,056.25

176.28

176.28

194,823.72

6/9/2005

1,055.30

2,111.55

177.24

353.52

194,646.48

7/9/2005

1,054.34

3,165.88

178.20

531.72

194,468.28

8/9/2005

1,053.37

4,219.25

179.16

710.88

194,289.12

9/9/2005

1,052.40

5,271.65

180.13

891.01

194,108.99

10/9/2005

1,051.42

6,323.07

181.11

1,072.12

193,927.88

11/9/2005

1,050.44

7,373.52

182.09

1,254.21

193,745.79

12/9/2005

1,049.46

8,422.97

183.08

1,437.29

193,562.71

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