Monthly Cost Calculator

Monthly tax deductibility should not be factored into the affordability of a given property; it's to be treated as gravy.

If you can afford a property only after a tax deduction -- you really can't afford the property in the first place.

When I want to do a quick purchase cost analysis, I use this: http://luxuryloft.com/purchase_cost_analysis.php

Thanks. And thanks NYCMatt, but I don't need the calculator to determine if a property is affordable. But I find the deductability interesting for the purposes of comparing to rent.

Matt, do you ever answer the question?

When it's justified, yes.

as for coops, it really doesn't matter if you can afford it in your own definition. Most coops require monthlies (mortgage + maint) to be less than 25% (some cases even less) of your gross monthly income minus debt service.

You have no idea why this person was asking for this type of calculator. But you felt the need to lecture on affordability. Just like earlier a person was asking about 1 BR on the UES and you proceeded to tell them to buy a 2BR in a less desirable neighborhood. These types of posts add nothing to the thread.

Here is a link to one: http://www.warburgrealty.com/mortgage_calculator