MyCalx

Housing Payment/Net Cost and Qualification Calculator

Sales Price

$200,000

Down Payment %

20%

Loan Amount

$160,000

Total Monthly Payment

$1,151

Rate/APR

5.00%	5.15%

Term

Taxes

$3,000

Insurance

$500

Condo/Co-op

$0.00

MI Factor

SP/UFMIP

Click to Open Net Cost Screen

Click to Open Qualification Screen

Net Cost Analysis Factors

Adjust your Marginal Tax Bracket

28.00%

Tax Savings on Mortgage Interest

$185

Tax Savings on Real Estate Taxes

$70

Tax Savings on Condo/Co-op or HOA Fee

Deductible Percentage =

Adjust the expected Rate of Appreciation

3.00%

Net Cost Results

Total Payment

Principal

$197

Tax Savings

$255

Appreciation

$500

Net Payment


INCOME CALCULATOR								Close & Enter Total

								Annual Totals

Annual Salary	$0

Weekly	$0	X	52	Weeks	=

Bi-Weekly	$0	X	26	Periods	=

Hourly	$0	X		Hours	X	Weeks	=

Other	$0	X			X		=

Income types that must be averaged for two years - Note, if declining from year to year, income may be disallowed towards qualification

	$0		Full year total from two years ago

	$0		Full year total from last year			Average	=

	$0		Full year total from two years ago

	$0		Full year total from last year			Average	=

	$0		Full year total from two years ago

	$0		Full year total from last year			Average	=

Income from interest and/or dividends can be hard to use, however, if allowed, it would typically be averaged for three years

	$0		Full year total from three years ago

	$0		Full year total from two years ago

	$0		Full year total from last year			Average	=

Total Income .........................................

Notes:

DEBT CALCULATOR

Close & Enter Total

Monthly Totals

Automobile loan or lease

School Loans

Credit Cards

Other Real Estate

Other

Total Monthly Debts =

Notes:

Assets - if required for the transaction, must be "liquid."

Close & Enter Total

Checking

Savings

CD / Money Market

Other

Gift Funds from Family

Brokerage

70%

Brokerage

70%

Brokerage

70%

Retirement

60%

Retirement

60%

Retirement

60%

Other

Total Assets (for use of retirement funds, written evidence for terms of liquidation may be required)

Total Cash for Closing and Reserves Required (from Cash Required Screen)

Over/Under =

Notes:

Cash Required for Closing and Qualification

Close & Enter Total

Down Payment

Closing Costs

Base Closing Cost Factor @

Approximate Base Closing Costs

Discount Points or Origination Fee

Cost of Points or Origination Fee

UFMIP/SP MI, VA Funding fee, etc., if not financed

Cost if not financed

Other

Total Other Fees

Total Closing Costs

Pre-Paid Expenses

Per Diem/Pre-Paid Interest

Days

Per-Diem Interest Total

Pre-Paid Homeowners Policy @

Months

Insurance Cost Total

Pre-Paid Expenses calculated @

Months

Pre-Paid Expense Total

Association, Condo or Coop Fees

Months

Monthly Fee Total

Other fees

Total Pre-Paid Expense

Monthly Reserve Requirements @

Months

Cash Reserves Required

Total Cash for Closing and Reserves Required

Base Costs used for the calculation of the APR = Closing Costs + Pre-Paid Interest + UFMIP/SP PMI

Enter the number of years of monthly MI/PMI to be used for the calculation of APR

Total Costs Used for the calculation of APR

Notes:

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