Home Purchase Calculator & Mortgage Analysis

Analyze a home purchase before you commit.

Calculate mortgage payments, amortization schedules, affordability, cash to close, ownership costs, renovation budgets, property value, price-per-square-foot comparisons, and long-term carrying costs in a single home purchase model. Evaluate whether a property fits your budget before making an offer.

⌖ — Location not set ⌂ Primary Residence ◈ 6.50% Rate ▣ 30 Years Updated: Today
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Estimated Monthly Cost i
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Cash Needed to Close i
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Down payment, costs, prepaids, renovation cash, and reserves.

Affordability Score i
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Income Needed

Based on monthly income, carrying cost, and remaining cash flow.

Deal Verdict i
Needs Income

Denarius updates the verdict as the model assumptions change.

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Purchase Economics

Purchase Price $0
Down Payment 0.0%
Loan Amount $0
Interest Rate 0.00%
Loan Term 0 Years
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Monthly Cost Breakdown

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Cash Needed to Close

Down Payment $0
Closing Costs (est.) $0
Prepaids (est.) $0
Renovation Cash $0
Reserves $0
Total $0
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Renovation Plan

Estimated Budget $0
Financing Method Cash
Financed Amount $0
Cash Needed $0
Monthly Renovation Payment $0
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Market Value Gap

Purchase Price $0
Subject $ / Sqft $0
Area Avg $ / Sqft $0
Price Gap / Sqft $0
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Affordability Bridge

Monthly Income $0
Total Monthly Cost $0
Housing Cost Ratio —
Remaining Monthly Cash Flow $0
$0 Remaining Monthly Cash Flow

Model Workspace

Inputs and schedules

Update the model assumptions below. The dashboard, cash-to-close, amortization, and Denarius recommendation refresh automatically.

Property Details

Start with the property price, location, and comparable market data.

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Based on area average $/sqft versus subject property $/sqft.

Property Purchase Insights

Market-aware perspectives for smarter home purchase decisions.

Before settling on a property, it's important to remember that a home purchase is more than a mortgage payment. Property taxes, homeowners association fees, insurance, maintenance expenses, and other recurring ownership costs all contribute to the true cost of owning a home, before accounting for everyday expenses such as electricity, water, internet, and waste disposal.

Homebuyers should have a clear understanding of the property's total carrying cost and how it fits within their broader financial picture. Evaluating affordability before signing on the dotted line can help prevent budget strain and ensure the purchase remains sustainable over the long term.

Renovation budgets change the real acquisition cost

A property purchased below market value is not automatically a bargain. Renovation costs, permitting expenses, financing costs, and contingency reserves can significantly increase the total capital required to complete a project.

Buyers should consider the combined cost of acquisition and improvement rather than focusing only on the purchase price.

Monthly affordability matters more than lender approval

Mortgage approvals are designed to establish borrowing capacity, not necessarily financial comfort. A lender may approve a payment level that leaves limited room for savings, maintenance, investing, or unexpected expenses.

Evaluating remaining cash flow after all housing costs are included can provide a more realistic view of long-term affordability.

Cash to close is frequently underestimated

Many buyers focus primarily on the down payment when preparing for a purchase. Closing costs, prepaid expenses, reserve requirements, moving costs, and renovation budgets can substantially increase the amount of cash required.

Price per square foot is a starting point, not a valuation

Price per square foot can provide useful market context, but it should not be treated as a complete valuation method. Location, condition, layout efficiency, renovation quality, lot characteristics, and neighborhood trends can all materially affect value.

Frequently Asked Questions

Answers to common questions about home purchase planning.

Guidance on affordability, mortgage financing, renovation budgeting, cash requirements, and long-term ownership costs.

How much house can I afford?

Home affordability depends on more than lender approval. Buyers should compare total monthly housing costs—including mortgage payments, property taxes, insurance, HOA fees, maintenance, and renovation expenses—against income, savings goals, and remaining cash flow.

What percentage of income should go toward housing?

Traditional guidelines often suggest keeping housing costs between 28% and 36% of income, but affordability ultimately depends on lifestyle, savings objectives, debt obligations, and local market conditions. Remaining monthly cash flow is often a more useful measure than any single ratio.

How much cash do I need to buy a house?

Buyers should budget for more than a down payment. Closing costs, prepaid expenses, reserve requirements, moving costs, and renovation budgets can substantially increase the amount of cash required to complete a purchase.

Should renovation costs be included in affordability calculations?

Yes. Renovation budgets represent real acquisition costs and should be evaluated alongside mortgage payments and ownership expenses. Whether improvements are financed or paid in cash, they affect the true cost of the investment.

What does price per square foot tell you?

Price per square foot can provide useful market context and help identify potential pricing gaps. However, location, property condition, lot characteristics, renovation quality, layout efficiency, and neighborhood trends can all materially affect value.

How much emergency savings should remain after closing?

Many homeowners maintain several months of expenses after closing to provide flexibility for repairs, unexpected costs, or temporary income disruptions. Reserve planning is an important part of overall affordability analysis.