Example:

$500,000 Purchase Price

$100,000 Downpayment @20%
$400,000 Mortgage @ 80%

$2,528.27 Mortgage Payment @ 6.5%
$416.67 Property Taxes @ 1%
$104.17 Homeowners Insurance @ 0.25%
$104.17 Special Taxes and Levies @ 0.25%
$100.00 Homeowners Associate Dues or Fees @ $100
$625.00 Maintenance and Replacement Reserves @1.5%
_________________________________________________________________________
$3,878.27 Monthly Cash Cost

..................$2,166.67 Interest on First Payment
$(567.71) Tax Savings @ 25% of mortgage interest and property taxes
$(361.61) Equity hidden in payment
$312.50 Lost Downpayment Income @ 5% of Downpayment
_________________________________________________________________________
$3,261 Total Cost of Ownership
Purchase Price $
Down Payment % $
Interest Rate %
Number of Years years
Mortgage $
Monthly Payment $
Property Tax % $
Special Taxes and Levies % $
Homeowners Insurance % $
Homeowners Association Fees $ (per month)
Maintenance and Replacement Reserves % $
Monthly Cash Cost $
Monthly Interest for 1st Payment $
Tax Savings (% of Interest and Property Tax) % $
Equity Hidden in Payment $
Lost Income to Down Payment % $
Total Cost of Ownership $