| Approximate Square Footage
of your Dream
Home |
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Square footage amounts range
from $140-$175. We used $150
here, but the final cost of your
project may vary from that amount. This cost does not include land
or allowance for site improvements. |
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sq. ft. |
Your Approximate
Cost: |
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 |
| Land |
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If you own property that is paid in full, enter a
zero.
If you still owe money on the property, enter the amount
owed here.
If you need to purchase property enter the estimated
cost here. |
|
$
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| Equity and
Savings |
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| If you are planning on using money from the
sale of an existing property and/or savings enter that amount
here. |
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$
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Mortgage Amount
Needed: |
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| Combined
Gross Monthly Income |
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In this calculation, the assumption has been made that
the maximum mortgage payment is 30% of the family income, which is a
rule of thumb in the banking industry. The banking industry also
uses a secondary formula for total debt. Please contact your
financial institution for guidance. |
|
$
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| Amount you wish to Borrow |
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| Enter the amount from Mortgage Amount or you
can override the
amount if you have equity from any other
sources. |
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$
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| Term of Loan in
Years |
|
years |
| Interest Rate |
|
% |
| Enter the interest rate as a
whole number. (example: 7.25) |
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Your Monthly
Payment: |
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