What would this home really cost?
Move the price. See the whole payment. Build your plan to buy.
No account, email, or phone required. Your calculator inputs stay in this tab.Build a complete homebuying plan: rent versus buy, savings, stress tests and a printable checklist →
Keep up to three named scenarios, then change the calculator for the next one. Saved comparisons stay in this tab and disappear when you leave. To save a file, choose “Save as PDF” in your browser’s print dialog.
Work backward to a price
Price ceiling under these assumptions: $296,026
Holds every other input fixed, including down-payment percentage, taxes entered as dollar amounts, and income. This is a cash-flow ceiling, not a valuation, approval, or check that you have the upfront cash. Revisit the cash needed after applying it.
Checking the weekly rate source… Freddie Mac PMMS via FRED. Conventional fixed-rate benchmark for comparison, not an FHA, VA, USDA, jumbo, or personal rate quote. Enter the rate your lender offers for the selected program. Your credit, down payment, points, and lender affect your rate.
Taxes, insurance & ownership costs
Illustrative starting assumptions. Replace them with local tax records and insurance quotes.
Build your cash-to-buy plan.
Closing costs and a cushion matter, even with a zero-down VA or USDA loan.
This is a planning total before earnest money already paid, seller or lender credits, and assistance. Your lender’s Loan Estimate provides the actual estimated cash to close. Closing-cost assumptions remain editable for cash purchases too.
- Down payment
- $42,450
- Closing costs & prepaids
- $12,735
- Inspection, moving & setup
- $1,500
- Ownership-cost cushion
- $10,560
- Still to save
- $67,245
Meeting this target does not establish loan eligibility or cover every household expense.
A little less house. A little more room.
Compare prices with your current loan, down-payment percentage, and cost assumptions.
| Home price | Monthly ownership | Cash target | Try this price |
|---|---|---|---|
| $339,600 | $2,846 | $54,186 | |
| $382,050 | $3,183 | $60,715 | |
| $424,500Current price | $3,520 | $67,245 | |
| $466,950 | $3,857 | $73,774 | |
| $509,400 | $4,194 | $80,304 |
How does it fit your income?
See the share of gross income going toward housing and recurring debt. Then compare the full ownership budget with your take-home pay and everyday expenses.
No income details are required to use the calculator.
This simplified debt-to-income ratio is not an approval test. Lender rules vary. VA underwriting also considers residual income, household size, and other factors.
What you need to buy a home.
A budget you can live with
Start with $3,520 in monthly ownership costs for this scenario. Add utilities and other living expenses, allow for cost increases, and compare that with take-home pay.
Cash and a paper trail
Your planning target is $67,245. Gather recent pay statements, income or benefit records, bank statements, and any tax returns your lender requests. Ask how to document gifts or assistance.
Your credit picture and loan options
Review your credit reports for errors before applying. Compare conventional, FHA, VA, USDA Guaranteed, and jumbo scenarios here. Ask about state or local assistance, program eligibility, and any second loan used for down-payment assistance.
CFPB homebuying resources ↗VA eligibility, if you plan to use it
Request your Certificate of Eligibility. Your service history or surviving-spouse eligibility, entitlement, occupancy, credit, and income still matter. No down payment depends on entitlement, price, appraisal, and lender requirements.
Funding-fee exemptions can apply, including for qualifying service-connected disability benefits. Confirm your status with VA or your lender; selecting “exempt” here is only a scenario.
Request a VA Certificate of Eligibility ↗Comparable lender estimates
Ask multiple lenders for Loan Estimates for the same loan type and term. Compare interest rate, APR, points, monthly costs, cash to close, and rate-lock terms. A benchmark rate is not a preapproval.
Read a Loan Estimate ↗A home that checks out
Get local tax and insurance estimates, review HOA obligations, and budget for an independent inspection. An appraisal checks value and is not a substitute for an inspection. Confirm financing and closing details before committing.
Other loan paths worth knowing.
The estimator covers fully amortizing fixed-rate purchases. These arrangements need their own payment schedule or program review.
Adjustable-rate mortgages (ARMs)
Available through some conventional and government programs. An introductory rate is followed by adjustments. Compare the index, margin, reset dates, and periodic and lifetime caps; a fixed payment at today’s rate cannot show that risk.
Understand fixed and adjustable rates ↗Interest-only, balloon & non-QM loans
Interest-only periods, a large final payment, or special underwriting can change the cost substantially. Ask for the full payment schedule and any prepayment penalty. Use the custom mode only if the loan is fully amortizing and fixed-rate.
Renovation, construction & manufactured-home loans
FHA 203(k), renovation mortgages, construction-to-permanent financing, and manufactured-home financing have property and funding requirements beyond a standard purchase. Construction draws and interest-only phases are not included here.
Explore FHA purchase and rehabilitation options ↗USDA Direct, assistance & special programs
USDA Direct payment assistance differs from USDA Guaranteed. State or local down-payment assistance may be a grant or a separate repayable loan. Native American Direct Loans and other targeted programs also need their own eligibility and fee review. Do not treat the custom estimate as a program quote.
USDA housing programs ↗Refinance, cash-out, assumptions & home equity
Refinancing or assuming an existing mortgage depends on its balance, remaining term, fees, and lender rules. A home-equity loan or HELOC adds borrowing against an existing home. Those are separate from this home-purchase cash plan.
Reverse mortgages
Reverse mortgages work differently from a monthly repayment loan: interest and fees can increase the balance, and eligibility, occupancy, taxes, and insurance obligations matter. This calculator does not estimate reverse-mortgage proceeds.
Sources, assumptions & calculation details
Educational estimates for a U.S. home purchase, not financial advice, a lending offer, or an eligibility decision. Inputs are not sent to our server or stored by this calculator. Reloading resets your plan. Normal website delivery and security logs still apply.
Monthly principal and interest use a fully amortizing fixed-rate loan: P × r ÷ [1 − (1 + r)−n], where r is the annual rate divided by 1,200 and n is the number of months. At 0% interest, payment is P ÷ n. Interest totals assume all scheduled payments, no prepayment, and an unchanged rate. Calculations retain precision; displayed dollars are rounded.
Property tax and upkeep scale with purchase price, which is only a proxy for assessed value and maintenance needs. PMI uses the initial base loan, applies to conventional and jumbo scenarios below 20% down, and is not projected over the loan’s lifetime. The VA purchase funding fee is based on the loan before the fee: first use 2.15% or subsequent use 3.3% below 5% down, 1.5% at 5% down, and 1.25% at 10% down. Confirm exemptions and current rules.
FHA annual MIP follows HUD’s standard forward-loan table, including its $726,200 base-loan breakpoint, distinct from county loan limits. FHA and USDA monthly amounts approximate the first year’s fee using the average of the first 12 scheduled opening balances; FHA excludes financed upfront MIP from that base, while USDA includes its financed guarantee fee. Actual lender billing and rounding can differ. If financed, USDA’s total loan is the base loan divided by 0.99; otherwise its upfront fee is 1% of the base loan. Subsequent annual fee amounts are not projected here.
Other/lender-quote mode adds only the upfront and monthly fees you enter. PMI for conventional or jumbo loans remains an assumption. Terms without a matching published rate use the 15-year (up to 15 years) or 30-year (longer terms) benchmark for comparison; enter a term-specific lender quote.
- HUD Mortgagee Letter 2023-05: FHA upfront and annual MIP, and HUD buying a home.
- USDA FY 2026 fee notice (valid October 1, 2025–September 30, 2026) and USDA Guaranteed loan overview. Check the current fee schedule for a later fiscal year.
- CFPB loan types, terms, and rate structures.
- Freddie Mac 30-year fixed rate via FRED and 15-year fixed rate via FRED. Primary Mortgage Market Survey, percent, weekly. Observation: 2026-09-03. Retrieved: 2026-09-07 UTC. Rates refresh automatically with a server cache of up to six hours. A failed refresh uses a labeled saved observation.
- VA funding fees and closing costs and VA purchase loan requirements. Rules reviewed September 6, 2026.
- Consumer Financial Protection Bureau: Loan Estimate explainer.
The mortgage payment is only part of homeownership
A fictional $350,000 home with 10% down needs a $315,000 base loan. A 3% closing-cost assumption adds $10,500 before other setup costs and reserves. Taxes, insurance, mortgage insurance and upkeep add to the monthly loan payment.
What to look for: The rate panel identifies the dated benchmark or your own quote. Compare loan types and cash targets together; a smaller down payment can lower cash needed now while increasing ongoing costs.
The example figures above stay fixed while you edit your own scenario. Use “Load example” to restore default inputs where available.