Summary
These two worksheets help you determine how much you can afford to pay for a house. This includes noting your monthly income and expenses as well as your net worth. Organizing your information this way can also help you prepare for a mortgage application or arrange for private financing.
Be sure to read the detailed instructions for line-by-line help on completing the worksheets.
Important to Know
- Don't list incorrect or incomplete information on your statement -- a lender will usually find out the truth. In addition, it's better to take the time to clean up a bad or erroneous credit file before house hunting.
- Once you've done the basic calculations and completed your financial statement, you can ask your lender for a "pre-approval letter," saying you're able to purchase a loan up to the maximum amount.
Why Use Nolo Documents?
Our downloadable forms are always the most current available -- and they provide the plain-English legal and business information, advice and alerts you need to use them effectively.
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