Buying budget
What your payment buys
Start from the monthly payment you are comfortable with, and see the price range it supports once taxes, insurance and HOA are counted.
Behind the numbers
How it works
Your payment, split up
Monthly payment = principal and interest + property tax + insurance + HOA + PMI (only if your down payment is under 20% of the price).
Solved for price
Principal and interest is the loan times a fixed factor for your rate and term. Taxes are a percentage of the price. So the tool solves for the one price where all the parts add up to your budget.
The range
The same budget at your rate plus and minus half a percent, because rates move before you lock.
Adjust it
What each input means
| Monthly payment | Everything you would pay the lender and HOA each month. |
|---|---|
| Down payment cash | Cash for the down payment only. Keep closing costs and a cushion separate. |
| Tax rate, insurance, PMI | Examples only. Your county’s tax rate and real quotes change the answer a lot. |
When to use it
Made for
- Before talking to a lender
- Setting a price range for listing alerts
- Comparing a 15- and 30-year loan
Buying
Choose the part of town that fits your life first: golf, trails, dining, space, views. Then be first to the right homes, sent to you personally by Morgan.
- Find your area
- Backyard sun (optional)
- Your search
- Your plan
Questions
Good to know
Is this what a lender will approve?+
No. Lenders look at income, debts, credit and the loan program. This shows what a payment you choose would support.
Why does the tax rate matter so much?+
Property tax is charged on the price, so a higher rate takes a bigger share of every dollar of budget.
Keep planning
Related tools
Saving to buyDown payment plannerHow long to save for the down payment, closing costs and a cushion, and what it takes to hit your date.Open →
Cash to closeClosing cost estimateWhat to bring to closing, line by line, from loan fees and title to prepaids, deposit and credits.Open →First to knowNew-listing alertsTell Morgan what you are looking for, and she sends matching homes personally as they come up, including…Open →Want Morgan’s eyes on it?
Send your numbers and she will review them personally, with real figures for your area.