These are projects posted by the students of Dr. Gove Allen at Brigham Young University. These students have taken one semester-long course on VBA and generally have had no prior programming experience

Wednesday, April 11, 2012

Affordable Home Calculator

Background: Many students graduating from college are starting their first “real” jobs and embarking on a new adventure, including learning how to best manage their newfound income and make wise financial choices over their coming years as he or she begins to make larger purchases, including the purchase of his or her first home.

Problem Description: A first-time home buyer is often unsure where to begin.  “How much money can I borrow?” and “How much money should I borrow?” are often among the first questions.  “What do all these different terms mean?” often follows next.

Overview of Solution: This project attempts to provide some help to anyone in this situation.  The goal of the project is to provide specific numbers for the mortgage a home buyer might be approved to borrow and to contrast these numbers with figures representing more wise and conservative amounts for a mortgage given the borrower’s financial position.

While many calculators that exist online provide a similar functionality, the various terms and questions are often new to a first-time home buyer.  This VBA-enabled workbook for Excel provides users with a helpful “wizard” that guides them through the different figures necessary to calculate the desired values.  At each point, help is provided to explain terms and provide links to reference websites that can help the user determine how he or she should answer each question.

An added benefit of this method is that it allows the user’s answers to the questions to be saved to the workbook so he or she can come back and modify their answers as he or she learns more and knows more about what they want in a home.  In addition, personal information is not sent out over the Internet, like with online calculators.

Affordable Home Calculator (Report)
Affordable Home Calculator (Excel Workbook)

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