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Troy  Real Estate Basics

Troy Real Estate AgentThere isn't a Troy Real Estate website out there that offers a total "hands on" package for all your real estate needs like this! 


Gross Annual Income: $     
Downpayment amount: $     
*Monthly debt: $     
Mortgage rate: (%)     
Annual property taxes: $     
Annual homeowners insurance: $     
    
  CONSERVATIVE AGGRESSIVE
House price: $   
Loan amount: $   
Monthly mortgage
payment: $		   
Taxes/Homeowners
insurance: $		   
  Total monthly payment: $   
  
 
 

ABOUT THIS CALCULATOR:
To arrive at an "affordable" home price, we followed the guidelines of most lenders. We've allowed a total debt-to-income ratio of no more than 36%. And we have assumed a housing payment-to-income ratio of 28% for our conservative estimate, and 33% for the aggressive one. Before buying, however, you should also factor in other savings needs, including retirement and college.

ASSUMPTIONS: We've assumed a 30-year mortgage term, annual property tax of $3,500 and homeowners insurance of $481 - the national average. And we do not factor in private mortgage insurance, which you'll owe if your downpayment is less than 20 percent of the purchase price. It averages from $50 to $80 per month. Plug in your own numbers for more tailor-made results.

*Include auto and student loans, alimony, child support payments and credit card payments.

 

 

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