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Mortgage Calculator for Purchase Price and Down Payment

Enter your budget and loan

$

The most you want to pay each month in total: principal, interest, property tax, insurance, PMI and HOA dues.

%
yrs
%
$

For the down payment and closing costs.

Ongoing costs

%

As a % of the home price.

$
$
More options
%

Charged on the loan when you put down less than 20%.

%

As a % of the price, paid in cash.

What you can buy

Highest purchase price

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Down payment

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Loan amount

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Best price your cash allows

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Monthly payment at that price

Principal and interest–
Property tax–
Home insurance–
PMI–
HOA dues–
Total (your budget)–
Cash to close (down payment + closing costs)–

This works from the payment you choose, not from your income. Lenders will also check your debt-to-income ratio and credit.

Price you can buy at each down payment

The same monthly budget at different down payments. A bigger down payment buys a more expensive home, and 20% or more removes PMI; the last column checks each one against your cash.

Down paymentHome priceDown payment amountLoan amountPrincipal and interestPMICash to closeYour cash covers it

Results are estimates for educational purposes and are not financial, tax or legal advice.

Start from the monthly housing payment you are comfortable with and work back to the highest home price you can buy, at your down payment and at several others, including taxes, insurance, PMI and HOA dues. The free house affordability calculator is free to use with no sign-up, and works on desktop and mobile.