Rent to Mortgage Calculator
Educational calculators — always consult a licensed professional before making financial decisions.
This is the payment you're comfortable making each month.
Use current 30-year fixed rates as a baseline.
Longer term = larger home price but more interest over time.
Lowest monthly payment, which supports the highest home price on your budget. Most buyers start here.
20% avoids PMI; FHA allows 3.5%; conventional minimum is 3–5%.
Equivalent home price (P&I only)
$481,808
Assuming 20% down at 6.75% for 30 years
Remember: Owning costs more than just the mortgage
Property taxes (~1.2%), insurance (~0.5%), and maintenance (~1%) add roughly 2.7% of home value per year. The "Max with Taxes & Insurance" figure above accounts for this.
This converts your rent to equivalent P&I only. Actual qualification depends on your income, credit score, and debt. Consult a licensed mortgage professional.
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Cost ranges and rates here are checked against contractor quotes and published industry data. If a number still looks off, email Support@RealCostIQ.com and we'll review and fix it.