Practical tools for everyday decisions.
Estimate your home buying budget when you have a substantial down payment of 20% or more, eliminating PMI entirely.
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A large down payment is one of the most powerful tools in home buying. Putting 20% or more down eliminates PMI entirely, lowers your loan amount, and can get you a better rate. This calculator shows how that extra savings translates to more home.
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Get immediate results with prefilled settings for this scenario. Adjust any value to match your exact situation.
PMI typically costs 0.3–1.5% of the loan amount per year. On a $350K loan at 0.5%, that's about $146/month. Eliminating PMI with 20% down frees that money for a higher mortgage payment, letting you afford roughly $20K–$25K more home.
Not always. If putting 20% down depletes your emergency fund or delays buying by years while prices rise, a smaller down payment with PMI may be more practical. This calculator helps you compare both paths.
Explore similar affordability scenarios with prefilled calculator settings.
See how much more house you can afford when you have no monthly debt payments eating into your budget.
Estimate your home buying budget on a $150,000 household income with a complete monthly cost breakdown.
Calculate your home buying budget when putting less than 20% down. See exactly how PMI and a smaller down payment affect your monthly costs.
Disclaimer
This calculator provides estimates for informational purposes only. It is not financial advice. Actual affordability depends on credit score, lender requirements, local taxes, and other factors not modeled here. Consult a qualified mortgage professional before making purchasing decisions.
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