1. Household finances
Optional: indicative lender estimate
2. Comfort level
3. Mortgage and property assumptions
Your three affordability numbers
Comfortable price range (primary)
$305,000 – $397,000
Limited by your monthly budget. Based on a $3,000/mo housing budget at 100% use.
Maximum cash-supported price
$543,000
After closing, moving, repairs and your reserve.
Potential lender-qualified price
$772,000
Indicative only (43% debt-to-income). A lender decides actual approval.
- Your monthly budget is the limiting factor; more savings would not raise this range.
- An indicative lender-style ceiling is above your comfortable range. Qualifying for a loan does not mean it fits your lifestyle budget.
Test a home price
This price exceeds your monthly budget
Modeled monthly cost $3,678 vs a budget of $3,000 ($678 over). Cash to close $115,000; savings after closing $35,000 vs a $25,000 reserve.
Monthly cost of ownership
| Principal and interest | $2,528 |
| Property tax | $500 |
| Homeowners insurance | $200 |
| Maintenance reserve | $250 |
| Utilities | $200 |
| Total per month | $3,678 |
Cash needed upfront
| Down payment | $100,000 |
| Closing costs | $15,000 |
| Cash to close | $115,000 |
| Plus emergency reserve kept | $25,000 |
| Total cash required | $140,000 |
Hidden costs: what is known, estimated, or missing
| Item | When | Amount | Status |
|---|---|---|---|
| Closing costs (lender, title, settlement, recording)Closing and lendingModeled at 3% of price. The CFPB says closing costs commonly run about 2-5%; get a Loan Estimate for actual figures. | One time | $15,000 | Estimated |
| Prepaid interest, initial insurance premium, escrow depositsPrepaids and escrowUsually part of closing costs; confirm on the Loan Estimate to avoid double counting. | One time | n/a | Needs a quote |
| General and specialist inspectionsProperty inspectionNot modeled. Add a figure after getting local quotes. | One time | n/a | Missing |
| Moving, deposits, furniture, utility setupMoving and setup | One time | $0 | Missing |
| Immediate repairsMoving and setup | One time | $0 | Missing |
| Property tax (monthly)Ongoing ownershipModeled at 1.2% of price per year. Verify the property's actual assessment. | Monthly | $500 | Estimated |
| Homeowners insurance (monthly)Ongoing ownershipBased on the annual figure you entered. Get a real quote. | Monthly | $200 | Estimated |
| HOA dues (monthly)Ongoing ownershipEnter dues if the property has an HOA. | Monthly | $0 | Missing |
| Utilities (monthly)Ongoing ownership | Monthly | $200 | You entered |
| Maintenance reserve (monthly)Ongoing ownershipModeled at 0.6% of price per year. | Monthly | $250 | Estimated |
| Mortgage insurance (monthly)Ongoing ownershipNot applied at 20% down or more. | Monthly | $0 | Estimated |
| Roof, HVAC, plumbing, appliances, water damageIrregular repairsCovered only through the maintenance reserve above; large repairs are scenario-based. | Scenario | n/a | Missing |
| Flood, wildfire, special district or local assessmentsLocation-specific risksDepends on the property; check risk maps and get quotes where relevant. | Property-specific | n/a | Needs a quote |
| Selling expenses, pre-sale repairs, moving againExit costsRelevant to expected ownership duration. | Scenario | n/a | Missing |
What-if scenarios at $500,000
| Scenario | Monthly cost | Budget left | Cash to close | Savings after |
|---|---|---|---|---|
| Your current plan | $3,678 | -$678 | $115,000 | $35,000 |
| 5% down | $4,350 | -$1,350 | $40,000 | $110,000 |
| 10% down | $4,182 | -$1,182 | $65,000 | $85,000 |
| 20% down | $3,678 | -$678 | $115,000 | $35,000 |
| Rate +1 point | $3,947 | -$947 | $115,000 | $35,000 |
| Rate -1 point | $3,421 | -$421 | $115,000 | $35,000 |
| Income -10% | $3,678 | -$1,678 | $115,000 | $35,000 |
| Expenses +10% | $3,678 | -$1,178 | $115,000 | $35,000 |
| Property tax +20% | $3,778 | -$778 | $115,000 | $35,000 |
Each row is recomputed from the same engine with one change. Income and expense scenarios shift your monthly budget; the others change the home's cost or cash needed.
Estimates are for educational planning only. They are not a mortgage approval, an insurance quote, or tax or legal advice. Property tax and insurance vary by property; the figures here are your assumptions, not verified quotes. Model limits: fixed-rate loan, simplified closing costs and mortgage insurance, no income volatility.