What has happened? Couple received a 20% raise What has happened? Couple received a 20% raise They...

How much house can I afford?

What has happened?Couple received a 20% raise

What has happened?Couple received a 20% raise

They have paid off the car

What has happened?Couple received a 20% raise

They have paid off the car

And…..

What has happened?Couple received a 20% raise

They have paid off the car

And…..

Since they will be buying a house they no longer need to pay rent!

Sample CalculationSuppose that your couple has the following:

300$omeposableIncMonthlyDis000,55$sPayAnnualGros

000,44$ayAnnualNetP

750$Re nt

250$CarNote

Sample Calculation – Promotion000,55$sPayAnnualGros

Sample Calculation – Promotion000,55$sPayAnnualGros

000,11$)20.0(000,55$%20 Increase

Sample Calculation – Promotion000,55$sPayAnnualGros

000,11$)20.0(000,55$%20 Increase000,66$yNewGrossPa

Sample Calculation – Promotion000,55$sPayAnnualGros

000,11$)20.0(000,55$%20 Increase000,66$yNewGrossPa

200,13$)20.0(000,66$ NewTax

Sample Calculation – Promotion000,55$sPayAnnualGros

000,11$)20.0(000,55$%20 Increase000,66$yNewGrossPa

200,13$)20.0(000,66$ NewTax800,52$200,13$000,66$ NewNetPay

Sample Calculation – Promotion000,55$sPayAnnualGros

000,11$)20.0(000,55$%20 Increase000,66$yNewGrossPa

200,13$)20.0(000,66$ NewTax800,52$200,13$000,66$ NewNetPay

000,44$OldNetPay

Sample Calculation – Promotion000,55$sPayAnnualGros

000,11$)20.0(000,55$%20 Increase000,66$yNewGrossPa

200,13$)20.0(000,66$ NewTax800,52$200,13$000,66$ NewNetPay

000,44$OldNetPay800,8$000,44$800,52$ NetPayDifference

Sample Calculation – Promotion000,55$sPayAnnualGros

000,11$)20.0(000,55$%20 Increase000,66$yNewGrossPa

200,13$)20.0(000,66$ NewTax800,52$200,13$000,66$ NewNetPay

000,44$OldNetPay800,8$000,44$800,52$ NetPayDifference

33.733$12

800,8$

ePayIncreasMonthlyNet

Sample Calculation – New Disposable Income

300$omeposableIncMonthlyDis

Sample Calculation – New Disposable Income

33.733$ePayIncreasMonthlyNet

300$omeposableIncMonthlyDis

Sample Calculation – New Disposable Income

33.733$ePayIncreasMonthlyNet

300$omeposableIncMonthlyDis

250$CarNote

Sample Calculation – New Disposable Income

33.733$ePayIncreasMonthlyNet

300$omeposableIncMonthlyDis

750$Re nt250$CarNote

Sample Calculation – New Disposable Income

33.733$ePayIncreasMonthlyNet

300$omeposableIncMonthlyDis

750$Re nt250$CarNote

33.033,2$bleIncomeNewDisposa

How much house can I afford?

33.033,2$

How much house can I afford?

33.033,2$