You are on page 1of 33

Pmt #

PURCHASE PRICE

279,000

Down Payment

55,800

Note Balance

Closing Costs

2,790

NOTE AMOUNT :

225,990

INTEREST :

6.25%

TERM :

360

PMTS / YEAR :

12

PAYMENT :

1,391

DEBT SERVICE:

16,698

1,391

MONTHLY PAYMENTS
Mortgage Payment
Monthly Homowner's Insurance
0.3% of Purchase Price

20.00%
Interest
1.00% Prin Pmt
Total Payment

Return Calculation
Entry Cost
Closing costs
Mortgage
Payment
Homeowners Insurance
Property Taxes
Maintenance
Homeowners Association Dues
Mortgage Insurance
Sales Price
Mortgage Payoff
Selling Expense
Total Cash Flows From Home
Tax benefit of owning
Rent Expense, Growth Rate $
Total Cash Flow Equivalent
Home Value - Growth Rate =

291

Condo Dues, HOA Dues

Return

Total Monthly Payments


Total Annual Payments
Required Income @ 28%

$16
$1,767
$21,209
$75,747

AFTER-TAX PAYMENT
Annual Interest Expense

$12,803

Annual Property Taxes

$3,488

Total Deductions
Estimated Annual Tax Savings
Estimated Monthly Tax Savings

2,400

70

Monthly Property Taxes


1.25% of Purchase Price

Monthly PMI
0.50% of Loan Amount

1.00%

$16,291
$5,376
$448

2.50%

26.78%

Estimated "After Tax" Monthly Payment


Estimated "After Tax" Annual Payment

$1,319
$15,833

Year
0

Year
1

Year
2

Year
3

Year
4

Year
5

Year
6

222,096

219,197

216,112

212,828

209,334

205,614

12,803
3,894
16,698

13,799
2,899
16,698

13,612
3,085
16,698

13,414
3,284
16,698

13,203
3,495
16,698

12,978
3,720
16,698

(16,698)
(837)
(3,488)
(2,790)
187

(16,698)
(854)
(3,522)
(2,790)
-

(16,698)
(871)
(3,558)
(2,790)
-

(16,698)
(888)
(3,593)
(2,790)
-

(16,698)
(906)
(3,629)
(2,790)
-

(16,698)
(924)
(3,665)
(2,790)
-

(55,800)

(23,625)
6,851
28,800
12,026

(23,864)
7,270
29,232
12,638

(23,916)
7,216
29,670
12,971

(23,969)
7,158
30,116
13,305

(24,023)
7,095
30,567
13,640

(24,077)
7,027
31,026
13,976

285,387

285,975

293,124

300,452

307,964

315,663

323,554

225,990

(279,000)
(2,790)
225,990

(55,800)
1.50%

Year
7

Year
8

Year
9

Year
10

201,655

197,442

192,958

188,185

12,739
3,959
16,698

12,484
4,213
16,698

12,213
4,484
16,698

11,925
4,773
16,698

Month
0
225,990

Month
1

Month
2

224,599

224,377

0
1,391
1,391

1,170
222
1,391

-1,391
-70
-291
-233
0
94

-1,391
-70
-291
-233
0
93

-1,891
144
2,400
653

-1,891
612
2,400
1,121

-279,000
-2,790
225,990
(16,698)
(943)
(3,702)
(2,790)
-

(16,698)
(961)
(3,739)
(2,790)
-

(16,698)
(981)
(3,776)
(2,790)
-

(24,132)
6,953
31,491
14,312

(24,188)
6,874
31,964
14,649

(24,245)
6,788
32,443
14,986

(16,698)
(1,000)
(3,814)
(2,790)
357,144
(188,185)
(21,429)
123,228
6,696
32,930
162,853

331,643

339,934

348,433

357,144

(55,800)

(55,800)
292,522

279,575

280,151

Month
3

Month
4

Month
5

Month
6

Month
7

Month
8

Month
9

Month
10

Month
11

224,154

223,930

223,705

223,479

223,251

223,022

222,792

222,561

222,329

1,169
223
1,391

1,167
224
1,391

1,166
225
1,391

1,165
226
1,391

1,164
228
1,391

1,163
229
1,391

1,162
230
1,391

1,160
231
1,391

1,159
232
1,391

-1,391
-70
-291
-233
0
0

-1,391
-70
-291
-233
0
0

-1,391
-70
-291
-233
0
0

-1,391
-70
-291
-233
0
0

-1,391
-70
-291
-233
0
0

-1,391
-70
-291
-233
0
0

-1,391
-70
-291
-233
0
0

-1,391
-70
-291
-233
0
0

-1,391
-70
-291
-233
0
0

-1,984
612
2,400
1,027

-1,984
611
2,400
1,027

-1,984
611
2,400
1,026

-1,984
610
2,400
1,026

-1,984
610
2,400
1,025

-1,984
609
2,400
1,025

-1,984
609
2,400
1,024

-1,984
608
2,400
1,024

-1,984
608
2,400
1,023

280,728

281,306

281,885

282,466

283,048

283,631

284,215

284,801

285,387

Month
12

Month
13

Month
14

Month
15

Month
16

Month
17

Month
18

Month
19

Month
20

222,096

221,861

221,625

221,388

221,149

220,910

220,669

220,427

220,183

1,158
233
1,391

1,157
235
1,391

1,156
236
1,391

1,154
237
1,391

1,153
238
1,391

1,152
240
1,391

1,151
241
1,391

1,149
242
1,391

1,148
243
1,391

-1,391
-70
-291
-233
0
0

-1,391
-71
-294
-233
0
0

-1,391
-71
-294
-233
0
0

-1,391
-71
-294
-233
0
0

-1,391
-71
-294
-233
0
0

-1,391
-71
-294
-233
0
0

-1,391
-71
-294
-233
0
0

-1,391
-71
-294
-233
0
0

-1,391
-71
-294
-233
0
0

-1,984
607
2,400
1,023

-1,989
609
2,436
1,056

-1,989
608
2,436
1,055

-1,989
608
2,436
1,055

-1,989
607
2,436
1,054

-1,989
607
2,436
1,054

-1,989
606
2,436
1,053

-1,989
606
2,436
1,053

-1,989
605
2,436
1,052

285,975

286,564

287,154

287,746

288,339

288,932

289,528

290,124

290,722

Month
21

Month
22

Month
23

Month
24

Month
25

Month
26

Month
27

Month
28

Month
29

219,939

219,693

219,445

219,197

218,947

218,696

218,444

218,190

217,935

1,147
245
1,391

1,146
246
1,391

1,144
247
1,391

1,143
249
1,391

1,142
250
1,391

1,140
251
1,391

1,139
252
1,391

1,138
254
1,391

1,136
255
1,391

-1,391
-71
-294
-233
0
0

-1,391
-71
-294
-233
0
0

-1,391
-71
-294
-233
0
0

-1,391
-71
-294
-233
0
0

-1,391
-73
-296
-233
0
0

-1,391
-73
-296
-233
0
0

-1,391
-73
-296
-233
0
0

-1,391
-73
-296
-233
0
0

-1,391
-73
-296
-233
0
0

-1,989
605
2,436
1,052

-1,989
604
2,436
1,051

-1,989
604
2,436
1,051

-1,989
603
2,436
1,050

-1,993
604
2,473
1,084

-1,993
604
2,473
1,083

-1,993
603
2,473
1,083

-1,993
603
2,473
1,082

-1,993
602
2,473
1,082

291,320

291,921

292,522

293,124

293,728

294,333

294,939

295,547

296,156

Month
30

Month
31

Month
32

Month
33

Month
34

Month
35

Month
36

Month
37

Month
38

217,678

217,421

217,162

216,901

216,640

216,376

216,112

215,846

215,579

1,135
256
1,391

1,134
258
1,391

1,132
259
1,391

1,131
260
1,391

1,130
262
1,391

1,128
263
1,391

1,127
264
1,391

1,126
266
1,391

1,124
267
1,391

-1,391
-73
-296
-233
0
0

-1,391
-73
-296
-233
0
0

-1,391
-73
-296
-233
0
0

-1,391
-73
-296
-233
0
0

-1,391
-73
-296
-233
0
0

-1,391
-73
-296
-233
0
0

-1,391
-73
-296
-233
0
0

-1,391
-74
-299
-233
0
0

-1,391
-74
-299
-233
0
0

-1,993
602
2,473
1,081

-1,993
601
2,473
1,081

-1,993
601
2,473
1,080

-1,993
600
2,473
1,080

-1,993
599
2,473
1,079

-1,993
599
2,473
1,078

-1,993
598
2,473
1,078

-1,997
600
2,510
1,112

-1,997
599
2,510
1,111

296,766

297,377

297,990

298,603

299,219

299,835

300,452

301,071

301,692

Month
39

Month
40

Month
41

Month
42

Month
43

Month
44

Month
45

Month
46

Month
47

215,310

215,040

214,769

214,496

214,221

213,946

213,669

213,390

213,110

1,123
269
1,391

1,121
270
1,391

1,120
271
1,391

1,119
273
1,391

1,117
274
1,391

1,116
276
1,391

1,114
277
1,391

1,113
279
1,391

1,111
280
1,391

-1,391
-74
-299
-233
0
0

-1,391
-74
-299
-233
0
0

-1,391
-74
-299
-233
0
0

-1,391
-74
-299
-233
0
0

-1,391
-74
-299
-233
0
0

-1,391
-74
-299
-233
0
0

-1,391
-74
-299
-233
0
0

-1,391
-74
-299
-233
0
0

-1,391
-74
-299
-233
0
0

-1,997
599
2,510
1,111

-1,997
598
2,510
1,110

-1,997
597
2,510
1,110

-1,997
597
2,510
1,109

-1,997
596
2,510
1,108

-1,997
596
2,510
1,108

-1,997
595
2,510
1,107

-1,997
595
2,510
1,107

-1,997
594
2,510
1,106

302,313

302,936

303,560

304,185

304,812

305,439

306,069

306,699

307,331

Month
48

Month
49

Month
50

Month
51

Month
52

Month
53

Month
54

Month
55

Month
56

212,828

212,545

212,261

211,975

211,688

211,399

211,108

210,816

210,523

1,110
282
1,391

1,108
283
1,391

1,107
284
1,391

1,106
286
1,391

1,104
287
1,391

1,103
289
1,391

1,101
290
1,391

1,100
292
1,391

1,098
293
1,391

-1,391
-74
-299
-233
0
0

-1,391
-75
-302
-233
0
0

-1,391
-75
-302
-233
0
0

-1,391
-75
-302
-233
0
0

-1,391
-75
-302
-233
0
0

-1,391
-75
-302
-233
0
0

-1,391
-75
-302
-233
0
0

-1,391
-75
-302
-233
0
0

-1,391
-75
-302
-233
0
0

-1,997
593
2,510
1,106

-2,002
595
2,547
1,140

-2,002
594
2,547
1,139

-2,002
593
2,547
1,139

-2,002
593
2,547
1,138

-2,002
592
2,547
1,138

-2,002
592
2,547
1,137

-2,002
591
2,547
1,136

-2,002
590
2,547
1,136

307,964

308,598

309,234

309,871

310,509

311,149

311,790

312,432

313,075

Month
57

Month
58

Month
59

Month
60

Month
61

Month
62

Month
63

Month
64

Month
65

210,228

209,931

209,633

209,334

209,032

208,730

208,425

208,119

207,812

1,096
295
1,391

1,095
297
1,391

1,093
298
1,391

1,092
300
1,391

1,090
301
1,391

1,089
303
1,391

1,087
304
1,391

1,086
306
1,391

1,084
308
1,391

-1,391
-75
-302
-233
0
0

-1,391
-75
-302
-233
0
0

-1,391
-75
-302
-233
0
0

-1,391
-75
-302
-233
0
0

-1,391
-77
-305
-233
0
0

-1,391
-77
-305
-233
0
0

-1,391
-77
-305
-233
0
0

-1,391
-77
-305
-233
0
0

-1,391
-77
-305
-233
0
0

-2,002
590
2,547
1,135

-2,002
589
2,547
1,135

-2,002
589
2,547
1,134

-2,002
588
2,547
1,133

-2,006
589
2,585
1,168

-2,006
588
2,585
1,168

-2,006
588
2,585
1,167

-2,006
587
2,585
1,166

-2,006
587
2,585
1,166

313,720

314,366

315,014

315,663

316,313

316,965

317,618

318,272

318,927

Month
66

Month
67

Month
68

Month
69

Month
70

Month
71

Month
72

Month
73

Month
74

207,503

207,192

206,880

206,566

206,250

205,933

205,614

205,294

204,971

1,082
309
1,391

1,081
311
1,391

1,079
312
1,391

1,077
314
1,391

1,076
316
1,391

1,074
317
1,391

1,073
319
1,391

1,071
321
1,391

1,069
322
1,391

-1,391
-77
-305
-233
0
0

-1,391
-77
-305
-233
0
0

-1,391
-77
-305
-233
0
0

-1,391
-77
-305
-233
0
0

-1,391
-77
-305
-233
0
0

-1,391
-77
-305
-233
0
0

-1,391
-77
-305
-233
0
0

-1,391
-79
-309
-233
0
0

-1,391
-79
-309
-233
0
0

-2,006
586
2,585
1,165

-2,006
585
2,585
1,164

-2,006
585
2,585
1,164

-2,006
584
2,585
1,163

-2,006
583
2,585
1,162

-2,006
583
2,585
1,162

-2,006
582
2,585
1,161

-2,011
583
2,624
1,196

-2,011
583
2,624
1,196

319,584

320,243

320,902

321,563

322,226

322,889

323,554

324,221

324,889

Month
75

Month
76

Month
77

Month
78

Month
79

Month
80

Month
81

Month
82

Month
83

204,647

204,322

203,995

203,666

203,335

203,002

202,668

202,332

201,995

1,068
324
1,391

1,066
326
1,391

1,064
327
1,391

1,062
329
1,391

1,061
331
1,391

1,059
332
1,391

1,057
334
1,391

1,056
336
1,391

1,054
338
1,391

-1,391
-79
-309
-233
0
0

-1,391
-79
-309
-233
0
0

-1,391
-79
-309
-233
0
0

-1,391
-79
-309
-233
0
0

-1,391
-79
-309
-233
0
0

-1,391
-79
-309
-233
0
0

-1,391
-79
-309
-233
0
0

-1,391
-79
-309
-233
0
0

-1,391
-79
-309
-233
0
0

-2,011
582
2,624
1,195

-2,011
581
2,624
1,194

-2,011
580
2,624
1,194

-2,011
580
2,624
1,193

-2,011
579
2,624
1,192

-2,011
578
2,624
1,192

-2,011
578
2,624
1,191

-2,011
577
2,624
1,190

-2,011
576
2,624
1,190

325,558

326,229

326,901

327,574

328,249

328,925

329,602

330,281

330,962

Month
84

Month
85

Month
86

Month
87

Month
88

Month
89

Month
90

Month
91

Month
92

201,655

201,314

200,971

200,627

200,280

199,932

199,582

199,230

198,876

1,052
339
1,391

1,050
341
1,391

1,049
343
1,391

1,047
345
1,391

1,045
347
1,391

1,043
348
1,391

1,041
350
1,391

1,039
352
1,391

1,038
354
1,391

-1,391
-79
-309
-233
0
0

-1,391
-80
-312
-233
0
0

-1,391
-80
-312
-233
0
0

-1,391
-80
-312
-233
0
0

-1,391
-80
-312
-233
0
0

-1,391
-80
-312
-233
0
0

-1,391
-80
-312
-233
0
0

-1,391
-80
-312
-233
0
0

-1,391
-80
-312
-233
0
0

-2,011
576
2,624
1,189

-2,016
577
2,664
1,225

-2,016
576
2,664
1,224

-2,016
575
2,664
1,223

-2,016
575
2,664
1,223

-2,016
574
2,664
1,222

-2,016
573
2,664
1,221

-2,016
572
2,664
1,220

-2,016
572
2,664
1,220

331,643

332,326

333,011

333,697

334,384

335,073

335,763

336,455

337,148

Month
93

Month
94

Month
95

Month
96

Month
97

Month
98

Month
99

Month
100

Month
101

198,520

198,163

197,803

197,442

197,079

196,714

196,347

195,978

195,607

1,036
356
1,391

1,034
358
1,391

1,032
359
1,391

1,030
361
1,391

1,028
363
1,391

1,026
365
1,391

1,025
367
1,391

1,023
369
1,391

1,021
371
1,391

-1,391
-80
-312
-233
0
0

-1,391
-80
-312
-233
0
0

-1,391
-80
-312
-233
0
0

-1,391
-80
-312
-233
0
0

-1,391
-82
-315
-233
0
0

-1,391
-82
-315
-233
0
0

-1,391
-82
-315
-233
0
0

-1,391
-82
-315
-233
0
0

-1,391
-82
-315
-233
0
0

-2,016
571
2,664
1,219

-2,016
570
2,664
1,218

-2,016
570
2,664
1,217

-2,016
569
2,664
1,217

-2,020
570
2,704
1,253

-2,020
569
2,704
1,252

-2,020
568
2,704
1,252

-2,020
568
2,704
1,251

-2,020
567
2,704
1,250

337,842

338,538

339,236

339,934

340,635

341,336

342,039

342,744

343,450

Month
102

Month
103

Month
104

Month
105

Month
106

Month
107

Month
108

Month
109

Month
110

195,235

194,860

194,484

194,105

193,725

193,342

192,958

192,571

192,183

1,019
373
1,391

1,017
375
1,391

1,015
377
1,391

1,013
379
1,391

1,011
380
1,391

1,009
382
1,391

1,007
384
1,391

1,005
386
1,391

1,003
388
1,391

-1,391
-82
-315
-233
0
0

-1,391
-82
-315
-233
0
0

-1,391
-82
-315
-233
0
0

-1,391
-82
-315
-233
0
0

-1,391
-82
-315
-233
0
0

-1,391
-82
-315
-233
0
0

-1,391
-82
-315
-233
0
0

-1,391
-83
-318
-233
0
0

-1,391
-83
-318
-233
0
0

-2,020
566
2,704
1,249

-2,020
565
2,704
1,249

-2,020
565
2,704
1,248

-2,020
564
2,704
1,247

-2,020
563
2,704
1,246

-2,020
562
2,704
1,245

-2,020
561
2,704
1,245

-2,025
562
2,744
1,281

-2,025
562
2,744
1,281

344,157

344,866

345,577

346,288

347,002

347,717

348,433

349,150

349,870

Month
111

Month
112

Month
113

Month
114

Month
115

Month
116

Month
117

Month
118

Month
119

191,792

191,400

191,005

190,608

190,210

189,809

189,406

189,001

188,594

1,001
391
1,391

999
393
1,391

997
395
1,391

995
397
1,391

993
399
1,391

991
401
1,391

989
403
1,391

986
405
1,391

984
407
1,391

-1,391
-83
-318
-233
0
0

-1,391
-83
-318
-233
0
0

-1,391
-83
-318
-233
0
0

-1,391
-83
-318
-233
0
0

-1,391
-83
-318
-233
0
0

-1,391
-83
-318
-233
0
0

-1,391
-83
-318
-233
0
0

-1,391
-83
-318
-233
0
0

-1,391
-83
-318
-233
0
0

-2,025
561
2,744
1,280

-2,025
560
2,744
1,279

-2,025
559
2,744
1,278

-2,025
558
2,744
1,277

-2,025
558
2,744
1,277

-2,025
557
2,744
1,276

-2,025
556
2,744
1,275

-2,025
555
2,744
1,274

-2,025
554
2,744
1,273

350,590

351,313

352,036

352,761

353,488

354,216

354,946

355,677

356,409

Month
120
188,185
982
409
1,391

-1,391
-83
-318
-233
0
0
357,144
(188,185)
(21,429)
145,505
553
2,744
148,803
357,144