Use this worksheet to help determine how much money is coming in, how much is going out, and how much is left over to buy a home. Be sure to leave some play money so you can continue doing the activities you enjoy.
| Home Buying Worksheet |
| Step 1. Add up your income |
|
Annual wages
Dividends/Interest
Bonuses
Other income
Total income |
$__________
$__________
$__________
$__________
$__________ |
| Step 2. Add up your expenses |
|
Taxes
Food
Insurance
Car loan
Car expenses
Credit card bills
School loans
Other loans
Child care
Clothing
Education
Savings
Entertainment
Vacations
Charity
Other
Total annual expenses |
$__________
$__________
$__________
$__________
$__________
$__________
$__________
$__________
$__________
$__________
$__________
$__________
$__________
$__________
$__________
$__________
$__________ |
| Step 3. Subtract your total expenses from your total income to get your disposable income |
|
Total annual income
Total annual expenses
Disposable income
|
$__________
$__________
$__________ |
Step 4. Divide your annual disposable income by 12 to get a monthly figure.
Mortgage payment you can afford |
$__________ |