how much can you spend on a home?
Post on 15-Aug-2015
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Take Monthly Income
SUBTRACT SET DEBTS
SUBTRACT FOOD COSTS
SUBTRACT SAVINGS
SUBTRACT ENTERTAINMENT COSTS
$
$
$
$
$
TOTAL:
take how much you make a month without taxes.
subtract car, phone, loan payments. everyone will have different debts.
Subtract what you pay for in food each month. Find this out by averaging your last
three months of food costs.
Subtract how much money you put into savings each month.
Subtract your average entertainment costs for each month.
This total represents how much money you could afford for housing costs each month.
x 12This total represents how much money you could afford for housing costs each year.
multiply this number by the number of years you want to have a loan for (15 years, 30 years). This is the price of a home you can afford.
x 30
how much can you spend on a home?
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