| A | B | C | D | E | F | G | |
|---|---|---|---|---|---|---|---|
1 | Conservative Scenario | Annual Appreciation | 4% | ||||
2 | Very safe approach only | Year #1 | 487,760.00 | ||||
3 | for a long term residence and | Year #2 | 507,270.40 | ||||
4 | long term hold of same loan | Year #3 | 527,561.22 | ||||
5 | Year #4 | 548,663.66 | |||||
6 | P & I 30-Year Fixed Rate | Year #5 | 570,610.21 | ||||
7 | Year #6 | 593,434.62 | |||||
8 | Purchase Price | $469,000 | Year #7 | 617,172.00 | |||
9 | Year #8 | 641,858.88 | |||||
10 | Downpayment | 20.00% | $ 93,800 | Year #9 | 667,533.24 | ||
11 | Non-Recurring Closing Cost (inpsections, loan fees, title & escrow fees) | $6,000 | Year #10 | 694,234.57 | |||
12 | Loan Amount | $ 375,200 | |||||
13 | Mortgage Balance | ||||||
14 | Expenses | Year #1 | $ 367,306.88 | ||||
15 | Interest Rate | 2.875% | Year #2 | $ 359,413.76 | |||
16 | Payment | $1,556.68 | Year #3 | $ 351,520.64 | |||
17 | Interest | $ 898.92 | Year #4 | $ 343,627.52 | |||
18 | Principal | $ 657.76 | Year #5 | $ 335,734.41 | |||
19 | % Principal Reduction per month | 42% | Year #6 | $ 327,841.29 | |||
20 | Year #7 | $ 319,948.17 | |||||
21 | Property Taxes | 1.1661% | $ 455.75 | Year #8 | $ 312,055.05 | ||
22 | Second Loan For 10% of purchase price (if any) | 0.00% | $ - | Year #9 | $ 304,161.93 | ||
23 | Mortgage Insurance | 0 | $ - | Year #10 | $ 296,268.81 | ||
24 | Home Owners Association Fee | $546.00 | |||||
25 | Insurance | $40.00 | Equity | ||||
26 | Total Monthly Payment | $ 2,598.43 | Year #1 | $ 120,453.12 | |||
27 | Home Warranty Protection Plan | $0.00 | Year #2 | $ 147,856.64 | |||
28 | Other Monthly Expenses | $0.00 | Year #3 | $ 176,040.57 | |||
29 | Year #4 | $ 205,036.14 | |||||
30 | Year #5 | $ 234,875.81 | |||||
31 | Total Expenses (The amount of check you write every month) | $ 2,598.43 | Year #6 | $ 265,593.33 | |||
32 | Year #7 | $ 297,223.84 | |||||
33 | Net Cost After Principal Reduction | $ 1,940.67 | Year #8 | $ 329,803.84 | |||
34 | Year #9 | $ 363,371.31 | |||||
35 | Tax Deductions | Year #10 | $ 397,965.76 | ||||
36 | Mortgage Interest - Maximum Deduction at $750K Loan | $ 898.92 | |||||
37 | Property Taxes - Maximum Deduction at $10,000 annum | $ - | |||||
38 | Special Assessment | $ - | Accumulated Equity After 10 Years | $ 397,965.76 | |||
39 | Mortgage Insurance | $ - | Initial Investment (downpayment & closing cost) | $ 99,800 | |||
40 | Home Owners Association Fee | $ - | Net Capital Gain | $ 298,165.76 | |||
41 | Insurance | $ - | $ - | ||||
42 | Property Management | Percentage Growth | 298.76% | ||||
43 | Depreciation | $ - | |||||
44 | Other Monthly Expenses | $ - | *** Please note that the above analysis are based on some very general assumptions and for illustration only. We advise you to consult your tax advisor for your specific tax situations and prior to making any final decisions. | ||||
45 | Deduction Per Month | $ 898.92 | |||||
46 | Total Annaul Deductions | $ 10,787.00 | |||||
47 | Tax Rebate less $12K standard deduction Based On Combined (Federal & State) Income Tax Bracket Per Month | 30.00% | $ - | ||||
48 | |||||||
49 | Net Net Cost To You After Tax Incentive & Principal Paydown | $ 1,940.67 | *** All Data In Blue Boxes Are Variables & Editable | ||||
50 | |||||||
51 | Assumptions: | ||||||
52 | 20% Downpayment with no point loan | ||||||
53 | Excluding $657 payment toward lowering the mortgage balance per month, gross housing monthly expense will be approx. $1,941 considerably lower than monthly rent | ||||||
54 | Future Average Annaul Appreciation Rate of 4% | ||||||
55 | Rated quoted above are from US Bank on 8/20/20 - no points | ||||||
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