$1,200 a Month Mortgage

How much mortgage can you get for $1,200 a month? Calculate home price based on $1,200 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 $1,200 a month?
This calculates the amount of a mortgage that you can get with a $1,200 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 1,200/month will afford.
What other costs do I need to consider?
Property Taxes: After the mortgage, your property taxes are usually the biggest expense in 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
1,200 / mo 284,627 251,353 223,538 200,150 180,369
1,205 / mo 285,813 252,401 224,469 200,984 181,121
1,210 / mo 286,999 253,448 225,401 201,818 181,872
1,215 / mo 288,185 254,495 226,332 202,652 182,624
1,220 / mo 289,371 255,543 227,264 203,486 183,375
1,225 / mo 290,557 256,590 228,195 204,320 184,127
1,230 / mo 291,743 257,637 229,126 205,154 184,878
1,235 / mo 292,929 258,685 230,058 205,988 185,630
1,240 / mo 294,115 259,732 230,989 206,822 186,381
1,245 / mo 295,301 260,779 231,921 207,656 187,133
1,250 / mo 296,487 261,827 232,852 208,490 187,884
1,255 / mo 297,673 262,874 233,783 209,323 188,636
1,260 / mo 298,859 263,921 234,715 210,157 189,388
1,265 / mo 300,045 264,968 235,646 210,991 190,139
1,270 / mo 301,231 266,016 236,578 211,825 190,891
1,275 / mo 302,416 267,063 237,509 212,659 191,642
1,280 / mo 303,602 268,110 238,440 213,493 192,394
1,285 / mo 304,788 269,158 239,372 214,327 193,145
1,290 / mo 305,974 270,205 240,303 215,161 193,897
1,295 / mo 307,160 271,252 241,235 215,995 194,648
1,300 / mo 308,346 272,300 242,166 216,829 195,400
Loan Amount by Rate. 30 year fixed, $1,200/mo
Interest Rate Mortgage
2.000% 324,658
2.125% 319,232
2.250% 313,934
2.375% 308,759
2.500% 303,705
2.625% 298,767
2.750% 293,944
2.875% 289,232
3.000% 284,627
3.125% 280,128
3.250% 275,731
3.375% 271,434
3.500% 267,234
3.625% 263,128
3.750% 259,115
3.875% 255,190
4.000% 251,353
4.125% 247,601
4.250% 243,932
4.375% 240,344
4.500% 236,833
4.625% 233,400
4.750% 230,040
4.875% 226,754
5.000% 223,538
5.125% 220,391
5.250% 217,311
5.375% 214,297
5.500% 211,346
5.625% 208,458
5.750% 205,630
5.875% 202,861
6.000% 200,150
6.125% 197,495
6.250% 194,895
6.375% 192,348
6.500% 189,853
6.625% 187,409
6.750% 185,014
6.875% 182,668
7.000% 180,369