Monthly Carrying Costs Worksheet

1. 	Estimated purchase price	$______________
2 .	Down payment	$______________
3.	Loan amount (line 1 - line 2)	$______________
4. 	Interest rate	________%
5. 	Mortgage payment factor	________________
6.	Monthly mortgage payment (line 3 x line 5)	$______________
7. 	Homeowner's insurance (monthly)	$______________
8. 	Property taxes (monthly)	$______________
9.	Total monthly carrying costs (add lines 6-8)	$______________
10.	Long-term debts (monthly payments)
_________________________	$______________
_________________________	$______________
_________________________	$______________
_________________________	$______________
Total long-term debts (monthly payments)	$______________
11.	Private mortgage insurance	$______________
12.	Homeowners' association fee	$______________
13.	Total monthly carrying costs and long-term debts (lines 9+12)	$______________
14.	Lender qualification (between .28 and .38)	_________%
15.	Monthly income to qualify (divide line 13 by line 14)	$______________
16.	Yearly income to qualify (multiply line 15 by 12)	$______________