Estimate Your Maximum Home Price with Our Calculator

The calculator below will estimate the loan amount based on the monthly payment.

Animated calculatorIn contrast to other online calculators, this conventional loan calculator will estimate your down payment and sales price based on a mortgage payment.

Each day, loan officers are tasked with pre-qualifying potential home buyers. However, determining the maximum sales price for a hypothetical home is challenging. Loan officers make educated predictions about property taxes and homeowner's insurance. Along with property taxes and homeowner's insurance, the monthly loan payment may include private mortgage insurance, homeowner's association dues, and even flood or earthquake insurance.

When a loan officer makes an informed estimate about a house buyer's creditworthiness, he or she is making an educated guess.

The following calculator does a reverse calculation of the monthly loan payment. Because we do not know the annual real estate taxes or homeowner's insurance, this calculator uses payment percentages for those expenses in addition to the principal and interest. Although the calculator is simple to use, the following criteria apply to it.

Step (1) Enter the proposed mortgage payment.

Step (2) Choose the down payment percentage.

Step (3) Using the drop-down box, choose the mortgage payment extras, such as taxes and insurance.

Step (4) Determine the loan's interest rate and term.

That is all! The calculator will provide an estimate of the purchase price and down payment.

Along with the down payment, purchasers must pay closing and prepayment charges. This calculator does not take those expenditures into account.
  Enter Monthly Payment >  
  Sales Price    
  Down Payment    
  Estimated Loan Amount    
  Monthly P & I Payment    
  Taxes, Insurance, PMI    
  Monthly Loan Payment  
  Interest rate (%)  
  Loan Term (Years)  

Are you strapped for cash?

A conventional loan requires a minimum down payment of 3% for the Conventional 97 loan and HomeReady mortgage programs. If you do not satisfy the requirements for the 3% down payment programs, the minimum down payment is 5%.

Seller concessions on conventional loans

For down payments of less than 10%, home sellers may pay the buyer's closing and prepayment charges up to 3% of the sales price.

Home sellers are permitted to contribute up to 6% of the purchase price in exchange for down payments ranging from 10% to 25% on a standard mortgage.


Cosigners are permitted on a conventional mortgages. Utilizing a cosigner may assist in meeting the debt-to-income ratio requirements or help you reach a higher sales price. Needless to say, the cosigner's credit must be acceptable.


In conclusion, by using the reverse payment calculator, you can figure out how much money you can borrow. This will help you budget and plan for your future. Remember to always be responsible with your money and never borrow more than you can afford to pay back.

Recommended Reading

  1. You can own a second home with a conventional loan
  2. 5-1 ARMs: The pros and cons of this popular mortgage option
  3. How does a 2-1 Buydown Loan work?