how much can you spend on a home?

1
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 12 This 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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Page 1: How much can you spend on a home?

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?