This is a home affordability calculator for Excel. Do you want to buy a house? There are times when you want to live in residential building with a better quality of living. It is probably larger or even smaller. You may demand the one with a better neighborhood so you can keep your family members, especially the kids safe to play around the house. Or you want to own a house which is located in essential public areas like hospital and school.
Buying a house is truly a big decision because of the amount of funds required to get the ownership. You can talk to the seller and buy the house with credit or directly apply for a mortgage to pay off this property value in full. Whatever solution to take, it is much more important to consider about your affordability. You may be able to talk with the authorized professional to consult this matter. It is also possible for you to use the Home Affordability Calculator. You can use it for calculating the ability of making the monthly payments.
For simple calculation, you just need to check the interest rate and length of the payment period. If you require for more detail view, you should consider about your monthly payment. You will also check the percentage of the amount of cash to spend within a month. That is how you can see the affordability to make the payments related to the home purchasing payments.
This home affordability calculator is one of financial tool in Microsoft Excel that should help you calculate your financial situation when you plan to purchase a house. It is built on general financial formulas provided by Excel with common assumption. The amount you have to pay could be different after you consult with targeted financial institution. Do not argue with your financial institution officer if you found it different, but you may ask for a more detail explanation if you confuse with their loan illustration.
Home Affordability Calculator (18.5 KiB, 518 hits)