Mortgage Calculator Spreadsheet | Home Affordability, PITI, 15 vs 30 Year Comparison | First Time Home Buyer (Excel)

Mortgage + Affordability Calculator — full PITI math, 15 vs 30 year side-by-side, closing cost estimator, and rate scenario toggle. The spreadsheet you open before any pre-approval meeting.

INSTANT DOWNLOAD
Works in Excel, Google Sheets, and Apple Numbers.

WHY THIS ONE

Online mortgage calculators hide details. Banks' calculators are biased toward selling you a bigger loan. This spreadsheet shows the real numbers: principal, interest, taxes, insurance (PITI), PMI, HOA, and total cost of ownership over the life of the loan. Run three rate scenarios side by side before your pre-approval appointment. It will save you thousands.

WHAT'S INSIDE

- Affordability calculator using the 28/36 debt-to-income rule
- Full PITI breakdown (principal, interest, taxes, insurance)
- 15-year vs. 30-year mortgage comparison (total interest saved, monthly delta)
- PMI auto-calculation (triggers at under 20% down, drops at 78% LTV)
- Closing cost estimator (realistic 2 to 5 percent of purchase price)
- Rate scenario toggle (run 3 rates to prep for shifting market)
- Amortization schedule (month 1 to final month)
- "Total lifetime cost" readout so you see what the house really costs
- HOA and property tax adjustments per state

WHO THIS IS FOR

- First-time home buyers comparing options before pre-approval
- Couples figuring out their realistic budget (not the bank's approval ceiling)
- Anyone deciding between a 15-year and 30-year loan
- Refinancers modeling rate-drop scenarios

HOW TO USE

1. Open in Excel or Google Sheets (File then Make a copy)
2. Enter gross income, existing debts, target down payment
3. Affordability tab shows your realistic max home price
4. PITI tab compares 15 vs. 30 year side-by-side with your rate
5. Run 2 to 3 rate scenarios to stress-test your budget

FILE DETAILS

- Format: .xlsx
- Tabs: Affordability, PITI, 15 vs 30, Amortization, Closing Costs, Instructions
- Fully editable
- Works across Excel, Sheets, Numbers

IMPORTANT

This is a planning tool, not financial advice. Always verify with your lender's Loan Estimate.
Digital download. No physical product.
All sales final. Personal use only.

Questions? Etsy message. Answered within 24 hours.