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How Much House Can you Buy?
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Affordability Spreadsheet and Pie Graph
Calculations for software engineer, single, mid-thirties

How Much House Can I Afford? % of monthly gross % of monthly gross after taxes and debt
Annual Household Income $66,000.00
Monthly Gross Income $5,500.00
Monthly State Income Tax (4%) $220.00 4.00%
Monthly Federal Income Tax (25%) $1,375.00 25.00%
Monthly minimum debt $550.00 10.00%
Monthly car payment $400.00 7.27%
Monthly student loan payment $0.00 0.00%
Minimum monthly credit card debt payment $150.00 2.73%
Total monthly salary left after debt and taxes $3,355.00 61.00%
Down Payment Amount $250,000.00
Maximum I can pay for PITI a month (34% of your gross monthly income) $1,870.00 34.00% 55.74%
Monthly Property Taxes $407.29 7.41% 12.14%
Homeowner's insurance premium $69.64 1.27% 2.08%
Maximum Principal and Interest Payment $1,393.07 25.33% 41.52%
Maximum Loan Amount $238,750.00
Maximum Purchase Price I can afford $488,750.00
Cash left each month after taxes, debt, and PITI paid $1,485.00

Affordability Chart



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