Home affordability tool
Home Purchase Price Calculator
Estimate an affordable home purchase price from a monthly housing-payment limit, down payment, mortgage rate, property taxes, insurance, PMI, HOA dues, and recurring costs.
- No email required
- Calculates in your browser
- Editable assumptions
How to use: Replace the example values with the scenario you want to explore. Results update as you type. Open the detailed sections for assumptions, breakdowns, and schedules.
Privacy: Rich Direction does not connect your calculator entries to your email address by default. Calculator values are not used to create advertising audiences.
Questions this tool helps answer
Compare the result, cost, and tradeoffs.
- What purchase price fits within the selected monthly housing budget?
- How do mortgage rates, taxes, insurance, PMI, and HOA dues change affordability?
- How much cash may be needed for the down payment and closing costs?
Method
How the calculation works
The calculator subtracts non-loan housing costs from the payment limit and solves the present value of the remaining principal-and-interest payment. When property tax is entered as a purchase-price rate, the circular relationship is solved algebraically.
Important definitions
Understand the result.
- Principal and interest
- The fixed loan payment before taxes, insurance, PMI, HOA dues, and other costs.
- Effective property-tax rate
- An estimate stated as a percentage of purchase price, not a promise about assessed or taxable value.
- Cash required
- Available down-payment cash plus closing costs when you choose to keep those costs separate.
Important limitations
Verify material decisions.
This is a planning estimate, not a mortgage preapproval or underwriting decision. Lenders may use different income, debt, reserve, tax, insurance, assessment, and qualification assumptions.
Use the calculator as an educational comparison tool and confirm important figures with source documents, providers, lenders, taxing authorities, or qualified professionals as appropriate.