Home Affordablllty Worksheet

Based on Monthly Income

High Value

Low Yalue

Amount

Annual income

Monthly income

Lender's monthly income affordability ratio

$30\%$

$25\%$

Maximum monthly mortgage payment $($PITI$)$

Estimated monthly property tax and insurance payment

Maximum monthly Ioan payment $($P and I only$)$

Expected interest rate

Planned loan maturity $($years$)$

Mortgage payment factor per $$10,000($from the Loan Maturity table$)$

Maximum loan based on monthly income

Funds Available for a Down Payment and Closing Costs

Required $(20\%)$ Down Payment

Maximum Purchase Price Based on Monthly Income