Title of this worksheet is in cell at right. Next instruction is in cell A4.
UNIT ADDRESS:
Projected Monthly Income label is in cell at right. Enter Income 1 in cell E4 and Extra Income in E5 to calculate Total monthly income in E6. Next instruction is in cell A6. 100% $ 561 $ 186,600 6.400%
Calculated Income 100% $ 186,600
Actual Monthly Income label is in cell at right. Enter Income 1 in cell E8 and Extra Income in E9 to calculate Total monthly income in E10. Next instruction is in cell A12. 3 $ 55,980 4 $ 4,665
$ 850,000
Annual Monthly
Property Tax Estimate $ 5,738 $ 478
Insurance $ 621 $ 52
Utility Estimate4$ 3,456 $ 288
HOA Fees $ 6,732 $ 561
Available for Mortgage $ 39,434 $ 3,286
$ 525,361.41
5% $ 27,651
SOURCES: 1. Mortgage Interest rate from CalHFA: https://www.calhfa.ca.gov/apps/rates/ - 6 Month Average
2. Market value comps at the time from recent sales on Zillow.
3. Utility Allowance Schedule - Effective 05/01/2024: https://www.smcgov.org/housing/utility-allowance-schedules
QUALIFIED AFFORDABLE MORTGAGE
Qualified Mortgage
Down Payment
Affordable Sales Price $553,012
HOUSEHOLD SIZE
ELIGIBLE
Number of Bedrooms AVAILABLE
HOUSING EXPENSE
Annual Income
Assumed Household Size Monthly Income
Market Value Comps
HOUSING COSTS
0.6750%
0.07%
$288
CITY OF SOUTH SAN FRANCISCO
AFFORDABLE HOUSING ANALYSIS
INPUTS
2230 Gellert Boulevard, Unit 3105
INCOME LIMIT
TO QUALIFY
Income Limit to Qualify
HOUSING COSTS
Monthly HOA Fees
Household Income to Qualify Mortgage Interest Rate