How Much Will Your Mortgage Payment Change If You Sell Your Home And Buy A New One?
If you will be selling your home to buy another, there are a lot of numbers floating around....
- what you'll sell for
- your closing costs when selling
- your mortgage payoff
- how much you'll pay for your new home
- how much of the purchase price you will finance
- how much your mortgage payment will change
Above you will see a spreadsheet I put together to help you think about some of these numbers as you are evaluating if and when you will make a move to a new house.
In yellow, are all of the inputs you will need to provide, or that you and I can determine together, such as your current payment, your home's current value, your mortgage payoff, whether you will be putting any additional money into the transaction, etc.
In green, I have identified your potential future mortgage payment and the net change in your monthly payment.
All of the numbers without a background color will automatically calculate for you.
Click here to download this worksheet as an editable Excel file.
