Get a realistic home price range based on your income, debts, and down payment — including taxes, insurance, PMI, HOA and maintenance, not just the mortgage.
Your financial situation
Estimated additional costs (monthly)
Extra payment (optional)
Add a monthly extra payment above to see how much time and money you could save.
Fill in your income and down payment to see your price range.
—
The recommended one. The "maximum" assumes you have no other living expenses, which is rarely realistic — buying at the top of your range leaves very little room for the unexpected.
It stands for Principal, Interest, Taxes, and Insurance — the four components that make up your real monthly housing payment, not just the mortgage.
It's insurance that protects the lender (not you) when your down payment is under 20% of the home's value. It's automatically cancelled once you reach 20% equity, but the simplest way to avoid it from the start is a 20% down payment.
20% is the traditional standard because it avoids PMI, but many programs allow less. A larger down payment always reduces how much interest you pay overall.