It's a #'s game!
I know the numbers and finance aspect of real estate can be overwhelming for those of us who are, well, gifted with an abundance of right brain functions...
I have 4 calculators below to help you make up the difference so you can play right alongside those left-brainers.
Monthly Payment - Mortgage Calculator - Enter in the purchase price and your down payment (including any down payment assistance) and fill in the rest of the blanks to see what your estimated monthly payment would be in various scenarios.
Seller Net Equity - Estimate what equity you may be liquidating with the sale of your home. This is helpful especially if you are deciding between selling now, waiting to build more equity, or waiting for different market conditions in your area.
Renting V. Buying - See what renting will cost you over inputted # of years and see that you could be building your own equity if you were a homeowner. This may help you decide if renting or owning is in your best interest long-term.
Investor Net Return - If you are considering purchase real estate to rent out and wondering if it's "worth it" or a "good return" this spreadsheet can help you see what return you would achieve with the inputted variables. Compare the estimated net % return with the return you would receive in a savings account. This is very basic and simple formulation and should only be used for estimation purposes. For a more accurate estimation, I have a spreadsheet coming soon! Send me a note and let me know you want it as soon as I finish!
*All these calculators are for estimations only. I have more accurate resources available and please contact a professional financial or mortgage advisor before you make any big desicions!