01/14/2025
Estimate the home price you can afford!!๐ก
Calculation:
Step 1. Gross Monthly Income (single or combined) X 28% (0.28) = ๐๐ณ๐ณ๐ผ๐ฟ๐ฑ๐ฎ๐ฏ๐น๐ฒ ๐ ๐ผ๐ป๐๐ต๐น๐ ๐ฃ๐ฎ๐๐บ๐ฒ๐ป๐
Step 2. Affordable Monthly Payment X 200 = ๐๐๐๐ถ๐บ๐ฎ๐๐ฒ๐ฑ ๐๐ผ๐บ๐ฒ ๐ฃ๐ฟ๐ถ๐ฐ๐ฒ ๐ฌ๐ผ๐ ๐๐ฎ๐ป ๐๐ณ๐ณ๐ผ๐ฟ๐ฑ
Example:
Step 1. $18,000 combined monthly income with partner X 0.28 = $๐ฑ,๐ฌ๐ฐ๐ฌ ๐๐๐๐ถ๐บ๐ฎ๐๐ฒ๐ฑ ๐๐ณ๐ณ๐ผ๐ฟ๐ฑ๐ฎ๐ฏ๐น๐ฒ ๐ ๐ผ๐ป๐๐ต๐น๐ ๐ฃ๐ฎ๐๐บ๐ฒ๐ป๐
Step 2. $5,040 Monthly Payment X 200 = $๐ญ,๐ฌ๐ฌ๐ด,๐ฌ๐ฌ๐ฌ ๐๐๐๐ถ๐บ๐ฎ๐๐ฒ๐ฑ ๐๐ผ๐บ๐ฒ ๐ฃ๐ฟ๐ถ๐ฐ๐ฒ ๐ฌ๐ผ๐ ๐๐ฎ๐ป ๐๐ณ๐ณ๐ผ๐ฟ๐ฑ
*7% ๐ช๐ฏ๐ต. ๐ณ๐ข๐ต๐ฆ ๐ถ๐ด๐ฆ๐ฅ ๐ง๐ฐ๐ณ ๐ข๐ฑ๐ฑ๐ณ๐ฐ๐น๐ช๐ฎ๐ข๐ต๐ช๐ฐ๐ฏ
๐๐ฆ๐ฆ๐ฑ ๐ช๐ฏ ๐ฎ๐ช๐ฏ๐ฅ: ๐๐ฏ๐ค๐ฐ๐ฎ๐ฆ/๐ฅ๐ฐ๐ธ๐ฏ ๐ฑ๐ข๐บ๐ฎ๐ฆ๐ฏ๐ต ๐ณ๐ฆ๐ฒ๐ถ๐ช๐ณ๐ฆ๐ฎ๐ฆ๐ฏ๐ต๐ด ๐ฎ๐ข๐บ ๐ท๐ข๐ณ๐บ ๐ฅ๐ฆ๐ฑ๐ฆ๐ฏ๐ฅ๐ช๐ฏ๐จ ๐ฐ๐ฏ ๐บ๐ฐ๐ถ๐ณ ๐ถ๐ฏ๐ช๐ฒ๐ถ๐ฆ ๐ง๐ช๐ฏ๐ข๐ฏ๐ค๐ช๐ข๐ญ ๐ด๐ช๐ต๐ถ๐ข๐ต๐ช๐ฐ๐ฏ ๐ข๐ฏ๐ฅ ๐ญ๐ฐ๐ข๐ฏ ๐ต๐ฆ๐ณ๐ฎ๐ด.