Professional Documents
Culture Documents
PURCHASE PRICE
279,000
Down Payment
55,800
Note Balance
Closing Costs
2,790
NOTE AMOUNT :
225,990
INTEREST :
6.25%
TERM :
360
PMTS / YEAR :
12
PAYMENT :
1,391
DEBT SERVICE:
16,698
1,391
MONTHLY PAYMENTS
Mortgage Payment
Monthly Homowner's Insurance
0.3% of Purchase Price
20.00%
Interest
1.00% Prin Pmt
Total Payment
Return Calculation
Entry Cost
Closing costs
Mortgage
Payment
Homeowners Insurance
Property Taxes
Maintenance
Homeowners Association Dues
Mortgage Insurance
Sales Price
Mortgage Payoff
Selling Expense
Total Cash Flows From Home
Tax benefit of owning
Rent Expense, Growth Rate $
Total Cash Flow Equivalent
Home Value - Growth Rate =
291
Return
$16
$1,767
$21,209
$75,747
AFTER-TAX PAYMENT
Annual Interest Expense
$12,803
$3,488
Total Deductions
Estimated Annual Tax Savings
Estimated Monthly Tax Savings
2,400
70
Monthly PMI
0.50% of Loan Amount
1.00%
$16,291
$5,376
$448
2.50%
26.78%
$1,319
$15,833
Year
0
Year
1
Year
2
Year
3
Year
4
Year
5
Year
6
222,096
219,197
216,112
212,828
209,334
205,614
12,803
3,894
16,698
13,799
2,899
16,698
13,612
3,085
16,698
13,414
3,284
16,698
13,203
3,495
16,698
12,978
3,720
16,698
(16,698)
(837)
(3,488)
(2,790)
187
(16,698)
(854)
(3,522)
(2,790)
-
(16,698)
(871)
(3,558)
(2,790)
-
(16,698)
(888)
(3,593)
(2,790)
-
(16,698)
(906)
(3,629)
(2,790)
-
(16,698)
(924)
(3,665)
(2,790)
-
(55,800)
(23,625)
6,851
28,800
12,026
(23,864)
7,270
29,232
12,638
(23,916)
7,216
29,670
12,971
(23,969)
7,158
30,116
13,305
(24,023)
7,095
30,567
13,640
(24,077)
7,027
31,026
13,976
285,387
285,975
293,124
300,452
307,964
315,663
323,554
225,990
(279,000)
(2,790)
225,990
(55,800)
1.50%
Year
7
Year
8
Year
9
Year
10
201,655
197,442
192,958
188,185
12,739
3,959
16,698
12,484
4,213
16,698
12,213
4,484
16,698
11,925
4,773
16,698
Month
0
225,990
Month
1
Month
2
224,599
224,377
0
1,391
1,391
1,170
222
1,391
-1,391
-70
-291
-233
0
94
-1,391
-70
-291
-233
0
93
-1,891
144
2,400
653
-1,891
612
2,400
1,121
-279,000
-2,790
225,990
(16,698)
(943)
(3,702)
(2,790)
-
(16,698)
(961)
(3,739)
(2,790)
-
(16,698)
(981)
(3,776)
(2,790)
-
(24,132)
6,953
31,491
14,312
(24,188)
6,874
31,964
14,649
(24,245)
6,788
32,443
14,986
(16,698)
(1,000)
(3,814)
(2,790)
357,144
(188,185)
(21,429)
123,228
6,696
32,930
162,853
331,643
339,934
348,433
357,144
(55,800)
(55,800)
292,522
279,575
280,151
Month
3
Month
4
Month
5
Month
6
Month
7
Month
8
Month
9
Month
10
Month
11
224,154
223,930
223,705
223,479
223,251
223,022
222,792
222,561
222,329
1,169
223
1,391
1,167
224
1,391
1,166
225
1,391
1,165
226
1,391
1,164
228
1,391
1,163
229
1,391
1,162
230
1,391
1,160
231
1,391
1,159
232
1,391
-1,391
-70
-291
-233
0
0
-1,391
-70
-291
-233
0
0
-1,391
-70
-291
-233
0
0
-1,391
-70
-291
-233
0
0
-1,391
-70
-291
-233
0
0
-1,391
-70
-291
-233
0
0
-1,391
-70
-291
-233
0
0
-1,391
-70
-291
-233
0
0
-1,391
-70
-291
-233
0
0
-1,984
612
2,400
1,027
-1,984
611
2,400
1,027
-1,984
611
2,400
1,026
-1,984
610
2,400
1,026
-1,984
610
2,400
1,025
-1,984
609
2,400
1,025
-1,984
609
2,400
1,024
-1,984
608
2,400
1,024
-1,984
608
2,400
1,023
280,728
281,306
281,885
282,466
283,048
283,631
284,215
284,801
285,387
Month
12
Month
13
Month
14
Month
15
Month
16
Month
17
Month
18
Month
19
Month
20
222,096
221,861
221,625
221,388
221,149
220,910
220,669
220,427
220,183
1,158
233
1,391
1,157
235
1,391
1,156
236
1,391
1,154
237
1,391
1,153
238
1,391
1,152
240
1,391
1,151
241
1,391
1,149
242
1,391
1,148
243
1,391
-1,391
-70
-291
-233
0
0
-1,391
-71
-294
-233
0
0
-1,391
-71
-294
-233
0
0
-1,391
-71
-294
-233
0
0
-1,391
-71
-294
-233
0
0
-1,391
-71
-294
-233
0
0
-1,391
-71
-294
-233
0
0
-1,391
-71
-294
-233
0
0
-1,391
-71
-294
-233
0
0
-1,984
607
2,400
1,023
-1,989
609
2,436
1,056
-1,989
608
2,436
1,055
-1,989
608
2,436
1,055
-1,989
607
2,436
1,054
-1,989
607
2,436
1,054
-1,989
606
2,436
1,053
-1,989
606
2,436
1,053
-1,989
605
2,436
1,052
285,975
286,564
287,154
287,746
288,339
288,932
289,528
290,124
290,722
Month
21
Month
22
Month
23
Month
24
Month
25
Month
26
Month
27
Month
28
Month
29
219,939
219,693
219,445
219,197
218,947
218,696
218,444
218,190
217,935
1,147
245
1,391
1,146
246
1,391
1,144
247
1,391
1,143
249
1,391
1,142
250
1,391
1,140
251
1,391
1,139
252
1,391
1,138
254
1,391
1,136
255
1,391
-1,391
-71
-294
-233
0
0
-1,391
-71
-294
-233
0
0
-1,391
-71
-294
-233
0
0
-1,391
-71
-294
-233
0
0
-1,391
-73
-296
-233
0
0
-1,391
-73
-296
-233
0
0
-1,391
-73
-296
-233
0
0
-1,391
-73
-296
-233
0
0
-1,391
-73
-296
-233
0
0
-1,989
605
2,436
1,052
-1,989
604
2,436
1,051
-1,989
604
2,436
1,051
-1,989
603
2,436
1,050
-1,993
604
2,473
1,084
-1,993
604
2,473
1,083
-1,993
603
2,473
1,083
-1,993
603
2,473
1,082
-1,993
602
2,473
1,082
291,320
291,921
292,522
293,124
293,728
294,333
294,939
295,547
296,156
Month
30
Month
31
Month
32
Month
33
Month
34
Month
35
Month
36
Month
37
Month
38
217,678
217,421
217,162
216,901
216,640
216,376
216,112
215,846
215,579
1,135
256
1,391
1,134
258
1,391
1,132
259
1,391
1,131
260
1,391
1,130
262
1,391
1,128
263
1,391
1,127
264
1,391
1,126
266
1,391
1,124
267
1,391
-1,391
-73
-296
-233
0
0
-1,391
-73
-296
-233
0
0
-1,391
-73
-296
-233
0
0
-1,391
-73
-296
-233
0
0
-1,391
-73
-296
-233
0
0
-1,391
-73
-296
-233
0
0
-1,391
-73
-296
-233
0
0
-1,391
-74
-299
-233
0
0
-1,391
-74
-299
-233
0
0
-1,993
602
2,473
1,081
-1,993
601
2,473
1,081
-1,993
601
2,473
1,080
-1,993
600
2,473
1,080
-1,993
599
2,473
1,079
-1,993
599
2,473
1,078
-1,993
598
2,473
1,078
-1,997
600
2,510
1,112
-1,997
599
2,510
1,111
296,766
297,377
297,990
298,603
299,219
299,835
300,452
301,071
301,692
Month
39
Month
40
Month
41
Month
42
Month
43
Month
44
Month
45
Month
46
Month
47
215,310
215,040
214,769
214,496
214,221
213,946
213,669
213,390
213,110
1,123
269
1,391
1,121
270
1,391
1,120
271
1,391
1,119
273
1,391
1,117
274
1,391
1,116
276
1,391
1,114
277
1,391
1,113
279
1,391
1,111
280
1,391
-1,391
-74
-299
-233
0
0
-1,391
-74
-299
-233
0
0
-1,391
-74
-299
-233
0
0
-1,391
-74
-299
-233
0
0
-1,391
-74
-299
-233
0
0
-1,391
-74
-299
-233
0
0
-1,391
-74
-299
-233
0
0
-1,391
-74
-299
-233
0
0
-1,391
-74
-299
-233
0
0
-1,997
599
2,510
1,111
-1,997
598
2,510
1,110
-1,997
597
2,510
1,110
-1,997
597
2,510
1,109
-1,997
596
2,510
1,108
-1,997
596
2,510
1,108
-1,997
595
2,510
1,107
-1,997
595
2,510
1,107
-1,997
594
2,510
1,106
302,313
302,936
303,560
304,185
304,812
305,439
306,069
306,699
307,331
Month
48
Month
49
Month
50
Month
51
Month
52
Month
53
Month
54
Month
55
Month
56
212,828
212,545
212,261
211,975
211,688
211,399
211,108
210,816
210,523
1,110
282
1,391
1,108
283
1,391
1,107
284
1,391
1,106
286
1,391
1,104
287
1,391
1,103
289
1,391
1,101
290
1,391
1,100
292
1,391
1,098
293
1,391
-1,391
-74
-299
-233
0
0
-1,391
-75
-302
-233
0
0
-1,391
-75
-302
-233
0
0
-1,391
-75
-302
-233
0
0
-1,391
-75
-302
-233
0
0
-1,391
-75
-302
-233
0
0
-1,391
-75
-302
-233
0
0
-1,391
-75
-302
-233
0
0
-1,391
-75
-302
-233
0
0
-1,997
593
2,510
1,106
-2,002
595
2,547
1,140
-2,002
594
2,547
1,139
-2,002
593
2,547
1,139
-2,002
593
2,547
1,138
-2,002
592
2,547
1,138
-2,002
592
2,547
1,137
-2,002
591
2,547
1,136
-2,002
590
2,547
1,136
307,964
308,598
309,234
309,871
310,509
311,149
311,790
312,432
313,075
Month
57
Month
58
Month
59
Month
60
Month
61
Month
62
Month
63
Month
64
Month
65
210,228
209,931
209,633
209,334
209,032
208,730
208,425
208,119
207,812
1,096
295
1,391
1,095
297
1,391
1,093
298
1,391
1,092
300
1,391
1,090
301
1,391
1,089
303
1,391
1,087
304
1,391
1,086
306
1,391
1,084
308
1,391
-1,391
-75
-302
-233
0
0
-1,391
-75
-302
-233
0
0
-1,391
-75
-302
-233
0
0
-1,391
-75
-302
-233
0
0
-1,391
-77
-305
-233
0
0
-1,391
-77
-305
-233
0
0
-1,391
-77
-305
-233
0
0
-1,391
-77
-305
-233
0
0
-1,391
-77
-305
-233
0
0
-2,002
590
2,547
1,135
-2,002
589
2,547
1,135
-2,002
589
2,547
1,134
-2,002
588
2,547
1,133
-2,006
589
2,585
1,168
-2,006
588
2,585
1,168
-2,006
588
2,585
1,167
-2,006
587
2,585
1,166
-2,006
587
2,585
1,166
313,720
314,366
315,014
315,663
316,313
316,965
317,618
318,272
318,927
Month
66
Month
67
Month
68
Month
69
Month
70
Month
71
Month
72
Month
73
Month
74
207,503
207,192
206,880
206,566
206,250
205,933
205,614
205,294
204,971
1,082
309
1,391
1,081
311
1,391
1,079
312
1,391
1,077
314
1,391
1,076
316
1,391
1,074
317
1,391
1,073
319
1,391
1,071
321
1,391
1,069
322
1,391
-1,391
-77
-305
-233
0
0
-1,391
-77
-305
-233
0
0
-1,391
-77
-305
-233
0
0
-1,391
-77
-305
-233
0
0
-1,391
-77
-305
-233
0
0
-1,391
-77
-305
-233
0
0
-1,391
-77
-305
-233
0
0
-1,391
-79
-309
-233
0
0
-1,391
-79
-309
-233
0
0
-2,006
586
2,585
1,165
-2,006
585
2,585
1,164
-2,006
585
2,585
1,164
-2,006
584
2,585
1,163
-2,006
583
2,585
1,162
-2,006
583
2,585
1,162
-2,006
582
2,585
1,161
-2,011
583
2,624
1,196
-2,011
583
2,624
1,196
319,584
320,243
320,902
321,563
322,226
322,889
323,554
324,221
324,889
Month
75
Month
76
Month
77
Month
78
Month
79
Month
80
Month
81
Month
82
Month
83
204,647
204,322
203,995
203,666
203,335
203,002
202,668
202,332
201,995
1,068
324
1,391
1,066
326
1,391
1,064
327
1,391
1,062
329
1,391
1,061
331
1,391
1,059
332
1,391
1,057
334
1,391
1,056
336
1,391
1,054
338
1,391
-1,391
-79
-309
-233
0
0
-1,391
-79
-309
-233
0
0
-1,391
-79
-309
-233
0
0
-1,391
-79
-309
-233
0
0
-1,391
-79
-309
-233
0
0
-1,391
-79
-309
-233
0
0
-1,391
-79
-309
-233
0
0
-1,391
-79
-309
-233
0
0
-1,391
-79
-309
-233
0
0
-2,011
582
2,624
1,195
-2,011
581
2,624
1,194
-2,011
580
2,624
1,194
-2,011
580
2,624
1,193
-2,011
579
2,624
1,192
-2,011
578
2,624
1,192
-2,011
578
2,624
1,191
-2,011
577
2,624
1,190
-2,011
576
2,624
1,190
325,558
326,229
326,901
327,574
328,249
328,925
329,602
330,281
330,962
Month
84
Month
85
Month
86
Month
87
Month
88
Month
89
Month
90
Month
91
Month
92
201,655
201,314
200,971
200,627
200,280
199,932
199,582
199,230
198,876
1,052
339
1,391
1,050
341
1,391
1,049
343
1,391
1,047
345
1,391
1,045
347
1,391
1,043
348
1,391
1,041
350
1,391
1,039
352
1,391
1,038
354
1,391
-1,391
-79
-309
-233
0
0
-1,391
-80
-312
-233
0
0
-1,391
-80
-312
-233
0
0
-1,391
-80
-312
-233
0
0
-1,391
-80
-312
-233
0
0
-1,391
-80
-312
-233
0
0
-1,391
-80
-312
-233
0
0
-1,391
-80
-312
-233
0
0
-1,391
-80
-312
-233
0
0
-2,011
576
2,624
1,189
-2,016
577
2,664
1,225
-2,016
576
2,664
1,224
-2,016
575
2,664
1,223
-2,016
575
2,664
1,223
-2,016
574
2,664
1,222
-2,016
573
2,664
1,221
-2,016
572
2,664
1,220
-2,016
572
2,664
1,220
331,643
332,326
333,011
333,697
334,384
335,073
335,763
336,455
337,148
Month
93
Month
94
Month
95
Month
96
Month
97
Month
98
Month
99
Month
100
Month
101
198,520
198,163
197,803
197,442
197,079
196,714
196,347
195,978
195,607
1,036
356
1,391
1,034
358
1,391
1,032
359
1,391
1,030
361
1,391
1,028
363
1,391
1,026
365
1,391
1,025
367
1,391
1,023
369
1,391
1,021
371
1,391
-1,391
-80
-312
-233
0
0
-1,391
-80
-312
-233
0
0
-1,391
-80
-312
-233
0
0
-1,391
-80
-312
-233
0
0
-1,391
-82
-315
-233
0
0
-1,391
-82
-315
-233
0
0
-1,391
-82
-315
-233
0
0
-1,391
-82
-315
-233
0
0
-1,391
-82
-315
-233
0
0
-2,016
571
2,664
1,219
-2,016
570
2,664
1,218
-2,016
570
2,664
1,217
-2,016
569
2,664
1,217
-2,020
570
2,704
1,253
-2,020
569
2,704
1,252
-2,020
568
2,704
1,252
-2,020
568
2,704
1,251
-2,020
567
2,704
1,250
337,842
338,538
339,236
339,934
340,635
341,336
342,039
342,744
343,450
Month
102
Month
103
Month
104
Month
105
Month
106
Month
107
Month
108
Month
109
Month
110
195,235
194,860
194,484
194,105
193,725
193,342
192,958
192,571
192,183
1,019
373
1,391
1,017
375
1,391
1,015
377
1,391
1,013
379
1,391
1,011
380
1,391
1,009
382
1,391
1,007
384
1,391
1,005
386
1,391
1,003
388
1,391
-1,391
-82
-315
-233
0
0
-1,391
-82
-315
-233
0
0
-1,391
-82
-315
-233
0
0
-1,391
-82
-315
-233
0
0
-1,391
-82
-315
-233
0
0
-1,391
-82
-315
-233
0
0
-1,391
-82
-315
-233
0
0
-1,391
-83
-318
-233
0
0
-1,391
-83
-318
-233
0
0
-2,020
566
2,704
1,249
-2,020
565
2,704
1,249
-2,020
565
2,704
1,248
-2,020
564
2,704
1,247
-2,020
563
2,704
1,246
-2,020
562
2,704
1,245
-2,020
561
2,704
1,245
-2,025
562
2,744
1,281
-2,025
562
2,744
1,281
344,157
344,866
345,577
346,288
347,002
347,717
348,433
349,150
349,870
Month
111
Month
112
Month
113
Month
114
Month
115
Month
116
Month
117
Month
118
Month
119
191,792
191,400
191,005
190,608
190,210
189,809
189,406
189,001
188,594
1,001
391
1,391
999
393
1,391
997
395
1,391
995
397
1,391
993
399
1,391
991
401
1,391
989
403
1,391
986
405
1,391
984
407
1,391
-1,391
-83
-318
-233
0
0
-1,391
-83
-318
-233
0
0
-1,391
-83
-318
-233
0
0
-1,391
-83
-318
-233
0
0
-1,391
-83
-318
-233
0
0
-1,391
-83
-318
-233
0
0
-1,391
-83
-318
-233
0
0
-1,391
-83
-318
-233
0
0
-1,391
-83
-318
-233
0
0
-2,025
561
2,744
1,280
-2,025
560
2,744
1,279
-2,025
559
2,744
1,278
-2,025
558
2,744
1,277
-2,025
558
2,744
1,277
-2,025
557
2,744
1,276
-2,025
556
2,744
1,275
-2,025
555
2,744
1,274
-2,025
554
2,744
1,273
350,590
351,313
352,036
352,761
353,488
354,216
354,946
355,677
356,409
Month
120
188,185
982
409
1,391
-1,391
-83
-318
-233
0
0
357,144
(188,185)
(21,429)
145,505
553
2,744
148,803
357,144