Partnership Homeownership Calculator
Plan your home purchase together
| Current situation | Scenario B | Scenario C | Scenario D | Scenario E | ||
|---|---|---|---|---|---|---|
| INCOME | Person A | |||||
| Yearly salary | ||||||
| Monthly salary | $12,500.00 | $5,833.33 | $5,833.33 | $7,500.00 | $7,083.33 | |
| Person B | ||||||
| Yearly salary | ||||||
| Monthly salary | $12,500.00 | $5,833.33 | $5,833.33 | $7,500.00 | $7,083.33 | |
| Total | $25,000.00 | $11,666.67 | $11,666.67 | $15,000.00 | $14,166.67 | |
| DEBT | Person A | |||||
| Monthly credit card debt | ||||||
| Monthly car payments | ||||||
| Monthly student loans | ||||||
| Monthly child support payments | ||||||
| Monthly alimony payments | ||||||
| Monthly other debt (to relatives, etc.) | ||||||
| Subtotal | $1,050 | $650 | $1,050 | $750 | $250 | |
| Person B | ||||||
| Monthly credit card debt | ||||||
| Monthly car payments | ||||||
| Monthly student loans | ||||||
| Monthly child support payments | ||||||
| Monthly alimony payments | ||||||
| Monthly other debt (to relatives, etc.) | ||||||
| Subtotal | $1,050 | $650 | $1,050 | $750 | $250 | |
| Total | $2,100 | $1,300 | $2,100 | $1,500 | $500 | |
| Insurance | Homeowners insurance | $291.67 | $291.67 | $291.67 | $291.67 | $291.67 |
| Tax | Property tax | |||||
| Home details | House sale price | |||||
| Person A down payment | ||||||
| Person B down payment | ||||||
| Total down payment | $50,000 | $50,000 | $35,000 | $35,000 | $45,000 | |
| Percent down payment | 5% | 5% | 4% | 4% | 5% | |
| Term (years) | 30 | 30 | 30 | 30 | 30 | |
| Loan amount | $950,000 | $950,000 | $965,000 | $965,000 | $955,000 | |
| Interest rate | Look up current at https://www.freddiemac.com/pmms | |||||
| Payment (mortgage) | $6,161.68 | $6,161.68 | $6,258.97 | $6,258.97 | $6,194.11 | |
| Housing costs (mortgage + ins + tax) | $7,453.35 | $7,453.35 | $7,550.64 | $7,550.64 | $7,485.78 | |
| Housing costs + debt | $9,553.35 | $8,753.35 | $9,650.64 | $9,050.64 | $7,985.78 | |
| Front end | 30% | 64% | 65% | 50% | 53% | |
| Back end | 38% | 75% | 83% | 60% | 56% | |
Loan Approval Matrix - Possibility of approval
| Loan Type / DTI | Current situation Front: 30% | Back: 38% |
Scenario B Front: 64% | Back: 75% |
Scenario C Front: 65% | Back: 83% |
Scenario D Front: 50% | Back: 60% |
Scenario E Front: 53% | Back: 56% |
|---|---|---|---|---|---|
| Conventional - Front End | YES | NO | NO | NO | NO |
| Conventional - Back End | YES | NO | NO | NO | NO |
| FHA - Front End | YES | NO | NO | NO | NO |
| FHA - Back End | YES | NO | NO | MAYBE | MAYBE |
| VA - Front End | YES | NO | NO | NO | NO |
| VA - Back End | YES | NO | NO | MAYBE | MAYBE |
| USDA - Front End | MAYBE | NO | NO | NO | NO |
| USDA - Back End | YES | NO | NO | NO | NO |
Legend:
YES = Clear to close
MAYBE = Possible with compensating factors
NO = Unlikely approval
INSTRUCTIONS: Edit the cells with green backgrounds to input your values. The black cells contain formulas and will update automatically.
You can create different scenarios by adjusting the values in each column.
For questions, contact: nicole@homeowering.com
Copyright 2022-2025 Homeownering