Affordable Home Calculator app for iPhone and iPad
Developer: Copley Designs
First release : 05 Jul 2010
App size: 578.33 Kb
The Affordable Home Calculator App
★★★FIND YOUR NEW HOME PRICE!!★★★
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Tap the Affordable Home Calculator App on your iPhone and easily find out how much home you can afford!
Have you ever looked at a house and wondered what it would take to afford a house like that? Now you can! This app lets you enter in some financial data about your household and easily see how much home you can afford.
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Heres how it works:
Enter in how much you make per year, the amount you have saved for a downpayment, your monthly debt (credit cards, student loans, etc.), mortgage rate, and taxes/insurance price to find out how much home you can afford!
As a guideline the annual taxes and insurance fields have been auto-filled to the average American household value of: $3500 for annual taxes and $481 as annual insurance cost.
Conservative estimate allots 30% of your take home pay to paying your mortgage and the Aggressive estimate allots 36% of your take home pay to paying for a house.
With the Affordable Home Calculator App you can:
- Calculate the home price you can afford
- Calculate the loan amount needed to afford your dream home
- Predict our monthly payment amount for your dream home
- Astonish yourself by seeing how much home you can afford if you deal with your finances properly!!
★★★★★ "WOW!, I had not looked at my finances this closely in the past and its amazing how much home I can afford if I put my mind to it!" - michae1ME
★★★★★ "So useful when buying a new home!" - tortoise23
*With this app weve assumed a 30-year mortgage term, and we do not factor in private mortgage insurance (PMI), which youll have to pay if your downpayment is less than 20 percent of the purchase price of your home. PMI can average from $50 to $80 per month.
*NOTE: These figures are not exact financial data, before buying a house we recommend consulting a professional financial adviser to advise you of your current financial status.