{"id":16095,"date":"2011-06-23T10:00:25","date_gmt":"2011-06-23T17:00:25","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=16095"},"modified":"2011-06-23T08:19:48","modified_gmt":"2011-06-23T15:19:48","slug":"new-improved-affordability-calculator","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2011\/06\/23\/new-improved-affordability-calculator\/","title":{"rendered":"New &#038; Improved Affordability Calculator"},"content":{"rendered":"<p>You may recall the javascript-powered <a href=\"http:\/\/seattlebubble.com\/blog\/2009\/03\/06\/simple-affordability-calculator\/\" title=\"Simple Affordability Calculator\">affordability calculator<\/a> I put up here a few years ago.  Well, Ross&mdash;an intrepid reader and Tableau wizard (and Tableau employee)&mdash;decided to take my simple calculator and crank it up a few notches.<\/p>\n<p>Behold the new and improved affordability calculator:<\/p>\n<div style=\"width:354px; height:750px; margin:0 auto;\">\n<script type=\"text\/javascript\" src=\"http:\/\/public.tableausoftware.com\/javascripts\/api\/viz_v1.js\"><\/script><object class=\"tableauViz\" width=\"354\" height=\"720\" style=\"display:none;\"><param name=\"host_url\" value=\"http%3A%2F%2Fpublic.tableausoftware.com%2F\" \/><param name=\"name\" value=\"UpdatedAffordabilityIndex&#47;Calculator\" \/><param name=\"tabs\" value=\"yes\" \/><param name=\"toolbar\" value=\"yes\" \/><param name=\"animate_transition\" value=\"yes\" \/><param name=\"display_static_image\" value=\"yes\" \/><param name=\"display_spinner\" value=\"yes\" \/><param name=\"display_overlay\" value=\"yes\" \/><\/object><noscript>Affordability Calculator Can you afford the home that you want? <br \/><a href=\"#\"><img decoding=\"async\" alt=\"Affordability Calculator Can you afford the home that you want? \" src=\"http:&#47;&#47;public.tableausoftware.com&#47;static&#47;images&#47;Up&#47;UpdatedAffordabilityIndex&#47;Calculator&#47;1_rss.png\" height=\"100%\" \/><\/a><\/noscript><\/p>\n<div style=\"width:354px;height:22px;padding:0px 10px 0px 0px;color:black;font:normal 8pt verdana,helvetica,arial,sans-serif;\">\n<div style=\"float:right; padding-right:8px;\"><a href=\"http:\/\/www.tableausoftware.com\/public?ref=http:\/\/public.tableausoftware.com\/views\/UpdatedAffordabilityIndex\/Calculator\" target=\"_blank\">Powered by Tableau<\/a><\/div>\n<\/div>\n<\/div>\n<p>Be sure to note the &#8220;Extras&#8221; tab, where you can adjust the affordability level to your own personal comfort level, <em>plus<\/em> add in the monthly cost of mortgage insurance if that applies to your situation.<\/p>\n<p>Spend some time with it and let Ross and I know what you think in the comments.  Thanks, Ross!<\/p>\n<hr style=\"border-top:2px solid #000000; margin:0;\" \/>\n<div style=\"font-size:85%;\"><strong>Methodology:<\/strong><br \/>\nThe typical standard for housing payments to be considered affordable is that they not exceed 30% of a one&#8217;s gross income. This calculator determines the total monthly payment on principal, interest, taxes, and insurance (PITI) for a fixed-rate mortgage and compares it to 30% of the given income. Payments equaling 30% or less of income are labeled as affordable.  The 30% threshold can be adjusted in the &#8220;Extras&#8221; tab.<\/p>\n<p>Note that if the down payment is less than 20%, the borrower may also be obligated to pay private mortgage insurance (PMI), which can be included in the above calculation by adding the monthly PMI cost in the &#8220;Extras&#8221; tab. The federal income tax deduction is not included in the calculation, since this &#8220;benefit&#8221; is typically not a factor in determining affordability.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>You may recall the javascript-powered affordability calculator I put up here a few years ago. Well, Ross&mdash;an intrepid reader and Tableau wizard (and Tableau employee)&mdash;decided to take my simple calculator and crank it up a few notches. Behold the new and improved affordability calculator: Affordability Calculator Can you afford the home that you want? Powered&#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[206],"tags":[28,376,531,51],"coauthors":[],"class_list":["post-16095","post","type-post","status-publish","format-standard","hentry","category-features","tag-affordability","tag-calculator","tag-tableau","tag-tools"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>New &amp; Improved Affordability Calculator \u2022 Seattle Bubble<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/seattlebubble.com\/blog\/2011\/06\/23\/new-improved-affordability-calculator\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"New &amp; Improved Affordability Calculator \u2022 Seattle Bubble\" \/>\n<meta name=\"twitter:description\" content=\"You may recall the javascript-powered affordability calculator I put up here a few years ago. 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