$1,000 a Month Mortgage

How much mortgage can you get for $1,000 a month? Calculate home price based on $1,000 monthly payment.
$
%

With the parameters you selected, \${$pageVals->prettyPayment}/mo will pay for a {$big} home loan.

This does not include the cost of insurance, repairs, taxes, PMI, HSA dues, or other costs.

How expensive of a home can I buy for $1,000 a month?
This calculates the amount of a mortgage that you can get with a $1,000 monthly payment. This is calculated based on the monthly payment, interest rate APR, and loan length. Add the down payment to the loan amount to find the total amount of the house that 1,000/month will afford.
What other costs do I need to consider?
Property Taxes: After the mortgage, your property taxes are usually the biggest expense on a property. Taxes are usually reset to a higher amount after you buy a home. A quick way to estimate your property taxes is to find your local millage rate and multiply by the taxable value of your home. The previous owner typically has a lower taxable value than your purchase price. When the taxable value is reset, your property taxes could increase significantly.
Maintenance: Over time, things break and need to be repaired. Consider these regular costs.
HOA Fees: If you buy a condo, HOA fees can be a large expense and these typically increase over time as the property ages.
Home Insurance: Home insurance is typically not too big of an expense but this can vary by region.
Mortgage Fees: Compare mortgages based on both interest rates and fees. Fees can vary widely based on the mortgage provider.
Down Payment: A standard down payment on a 30 year fixed rate mortgage is 20% of the purchase price however many loan programs offer lower down payments.
Mortgage Amount by Monthly Payment - 30 Year Fixed Mortgage
Payment 3% APR 4% APR 5% APR 6% APR 7% APR
1,000 / mo 237,189 209,461 186,282 166,792 150,308
1,005 / mo 238,375 210,509 187,213 167,626 151,059
1,010 / mo 239,561 211,556 188,144 168,460 151,811
1,015 / mo 240,747 212,603 189,076 169,293 152,562
1,020 / mo 241,933 213,650 190,007 170,127 153,314
1,025 / mo 243,119 214,698 190,939 170,961 154,065
1,030 / mo 244,305 215,745 191,870 171,795 154,817
1,035 / mo 245,491 216,792 192,801 172,629 155,568
1,040 / mo 246,677 217,840 193,733 173,463 156,320
1,045 / mo 247,863 218,887 194,664 174,297 157,071
1,050 / mo 249,049 219,934 195,596 175,131 157,823
1,055 / mo 250,235 220,982 196,527 175,965 158,574
1,060 / mo 251,421 222,029 197,459 176,799 159,326
1,065 / mo 252,607 223,076 198,390 177,633 160,078
1,070 / mo 253,793 224,124 199,321 178,467 160,829
1,075 / mo 254,979 225,171 200,253 179,301 161,581
1,080 / mo 256,165 226,218 201,184 180,135 162,332
1,085 / mo 257,350 227,265 202,116 180,969 163,084
1,090 / mo 258,536 228,313 203,047 181,803 163,835
1,095 / mo 259,722 229,360 203,978 182,637 164,587
1,100 / mo 260,908 230,407 204,910 183,471 165,338
Loan Amount by Rate. 30 year fixed, $1,000/mo
Interest Rate Mortgage
2.000% 270,549
2.125% 266,027
2.250% 261,612
2.375% 257,299
2.500% 253,087
2.625% 248,973
2.750% 244,953
2.875% 241,026
3.000% 237,189
3.125% 233,440
3.250% 229,776
3.375% 226,195
3.500% 222,695
3.625% 219,274
3.750% 215,929
3.875% 212,659
4.000% 209,461
4.125% 206,335
4.250% 203,277
4.375% 200,286
4.500% 197,361
4.625% 194,500
4.750% 191,700
4.875% 188,962
5.000% 186,282
5.125% 183,659
5.250% 181,093
5.375% 178,581
5.500% 176,122
5.625% 173,715
5.750% 171,358
5.875% 169,051
6.000% 166,792
6.125% 164,579
6.250% 162,412
6.375% 160,290
6.500% 158,211
6.625% 156,174
6.750% 154,179
6.875% 152,223
7.000% 150,308