Own A Home

Can we afford that dream house? Home cost = Down payment =

80,000.00 25,000.00

Loan Amount:

55000.00

Annual Interest rate (Type % after the figure) Instalment frequency ## (months): Number of Periods:

7.25% 1

(i.e. indicate if payments are made on monthly basis(1),

75

or every two months(2) etc.)

Your loan instalment will be Detailed breakup of the repayments made Total amount repaid Total interest paid

Can we afford this? 1 Our monthly income is 2 Every year, during the loan period, we expect income to increase by 3 Our current monthly expenses are 4 Monthly expenses are expected to increase by from next month,(due to inflation),every month 5 During the next 75 months, I expect some more extra expenses on account of say, children's education etc. These will occur in the following months: Give month numbers here: (You can indicate for upto Month 1 60 two months in the future) Month 2 6 My tax bracket is 30 % At the end of 75 months, your financial position will be as follows:Total receipts Total outflows Total expected surplus is = So, the bottom line is

639,375.00 467,343.38 172,031.62

Note you will get a tax rebate on the amount of in Tax benefit has been adjusted from the outflow am while calculating the overall position.

OK , you can go ahead.

See how much you can afford to buy a house for, and still have a surplus.Red figure denotes unaffordable position Other things remain same. House costs Err:522 Err:522 Total receipts $639,375.00 639375.00 639375.00 Total outflows $467,343.38 Err:522 Err:522 surplus/deficit $172,031.62 Err:522 Err:522 Run date © Rakesh Mathur 12/01/07

Thursday, August 20, 2009

eam house? ## explanation This is the frequency of repayment. If loan instalment payments are to be made

re made on monthly basis(1),

every month, put

1

every 2 months, put

2

every 6 months, put

6 and so on….

914.16 (including interest portion) 68,561.97 13,561.97

Rs. 8000 takehome(net of all deductions) 2000 (give annual dollar takehome amount) 3500 50 Rs. per month

Give here theRs. amount(not %) of increase in monthly expenses.Zero if no increase. 100

u will get a tax rebate on the amount of interest paid. efit has been adjusted from the outflow amounts lculating the overall position.

ed figure denotes unaffordable position. House costs Err:522 639375.00 Err:522 Err:522

Err:522 639375.00 Err:522 Err:522

Err:522 639375.00 Err:522 Err:522

Err:522 639375.00 Err:522 Err:522

Err:522 639375.00 Err:522 Err:522