Start with the monthly number, end with a price range
The budget-first worksheet
The short version
Print this page and fill in each line with your own figures. When it is complete you will have a comfortable monthly housing number, the parts of it that go to taxes, insurance and dues, the cash you can bring, and the reserve you will protect. Those are the inputs the reverse calculator needs.
Last reviewed against the primary sources listed below.
Part A: monthly life
| Line | Your figure |
|---|---|
| Take-home pay in a normal month | |
| Debts and minimum payments | |
| Childcare, transport, insurance | |
| Savings you want to keep making | |
| Comfortable total for housing |
Part B: the home
| Line | Your figure |
|---|---|
| Property tax per month | |
| Homeowners insurance per month | |
| HOA or condo dues | |
| Mortgage insurance, if any | |
| Utilities and upkeep you listed |
Part C: cash
| Line | Your figure |
|---|---|
| Cash set aside to buy | |
| Closing costs from your Loan Estimate | |
| Reserve you will not touch |
Taking it further
A HUD-approved housing counselor can go through a completed worksheet with you, often at no cost.
You asked, we answered
Where do I find closing costs?
On the Loan Estimate a lender gives you after you apply, in the closing cost sections on page two.
Who can review my worksheet?
A HUD-approved housing counseling agency can review your budget with you.