Harper's House Plan

Finance Project

About Me

My name is Harper. I'm 25 years old. I have a bachelor's degree in business. I'm managing a delightful retail store. My annual salary is $70,000. I'm in debt with student loans, 35,000. I also have a car payment of $325 per month. I want to buy my first home soon.

Monthly Amount

Salary: $70,000

30% tax

$4083.33 monthly earnings

Monthly Budget due to payments/Total Amount

The Total Monthly Amount: $4083.33

Student loan payment: $402.78

Car Insurance: $60

Food: $250

Cell: $60

Utilities: $200

Car payment: $325

Gas: $200

Entertainment costs: $200




Amount that I can afford each month: $2385.55

Payment for the House/Minimum Payment

What I can afford:

If I pay $2385.55 each month for thirty years then I can afford a $515,108 house.

To leave extra for future vacations and others,

I'm going to buy a $400,00 house which will require $1852.46 each month.


Minimum Payment: $1852.46 each month

Increased Principle/Actual Total Payment

Actual payment: $666885.60 in thirty years

Amount and time reduced by paying 15% extra:

  1. $2130.33 each month
  2. 23.6 years
  3. 603309.46 for 23.6 years
  4. $63576.14 saved with 15% more each month