ELI5: Explain Like I'm 5

Mohawk Valley formula

Alright kiddo, let me explain to you what Mohawk Valley formula means. You know how when you go to school, your teacher tells you about numbers and how they work together? Well, Mohawk Valley formula is just like that, except it's a special formula that helps people who are interested in buying houses figure out how much money they will need.

Now, imagine you want to buy a house someday. There are a lot of things you need to know before you can buy it, like how much money you have saved and how much money you make each month. Mohawk Valley formula can help you figure out how much money you will need to buy a house based on a few different things, like how much money you make and how long you want to take to pay off your mortgage, which is a special kind of loan you use to buy a house.

So basically, Mohawk Valley formula is a tool that helps people who want to buy houses figure out how much money they will need to save up and how much they will need to pay each month to afford their dream home. It's like a special math problem that helps you plan for the future and make smart choices about your money.