WorkSheet 5.3 completed for FPE8

WorkSheet 5.3 completed for FPE8 - Item 6 Item 9) 11 Funds...

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HOME AFFORDABILITY ANALYSIS* Item Description Amount Name $ $ $ $ $ $ $ $ $ $ $ Date 1 Amount of annual income 2 Monthly income (Item 1 ± 12) 3 Lender’s affordability ratio (in decimal form) 4 Maximum monthly mortgage payment (PITI) (Item 2 ² Item 3) 5 Estimated monthly property tax, heating, and insurance 6 Maximum monthly loan payment (Item 4 ³ Item 5) 7 Approximate average interest rate on loan 8 Planned loan maturity (years) 9 Mortgage payment per $10,000 (using Item 7 and Item 8 and Table of Monthly Mortgage Payments in Exhibit 5.9) 10 Maximum loan based on monthly income ($10,000 ²
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Unformatted text preview: Item 6 Item 9) 11 Funds available for making a down payment and paying closing costs 12 Funds available for making a down payment (Item 11 .67) 13 Maximum purchase price based on available monthly income (Item 10 Item 12) 14 Minimum acceptable down payment (in decimal form) 15 Maximum purchase price based on down payment (Item 12 Item 14) 16 Maximum home purchase price (lower of Item 13 and Item 15) $ 47,500 3,958 0.30 1,188 125 1,063 7 25 70.05 27,000 18,090 18,090 0.15 120,600 18,090 %,...
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