Home Path Realty

Know your
numbers first.

Before you tour a single property, understand the full financial picture. Use this calculator to see your estimated monthly costs, closing expenses, and what you can realistically afford.

Affordability Calculator
Your Purchase Details

Adjust the fields below and your estimated costs will update automatically on the right. All figures are estimates intended to help you plan — your agent will help you refine these numbers for a specific property.

Taxes & Insurance
Your Income
Debt-to-Income Ratio47.0%

Your DTI exceeds 43%, which is the upper limit for most conventional and FHA loan programs. Consider a lower price point, a larger down payment, or reducing existing debt before applying.

Estimated Monthly Payment
$4,304

Principal, interest, taxes, insurance, and maintenance combined.

P & I
Tax
Insurance
HOA / Maint.
Monthly Breakdown
Principal & Interest$2,854
Property Tax$700
Homeowners Insurance$150
HOA / Maintenance$600
Total Monthly$4,304
Estimated Closing Costs
$19,250

Typical buyer closing costs in New York range from 2% to 5% of the purchase price. This estimate uses 3.5% and includes lender fees, title insurance, attorney fees, recording charges, and prepaid items.

Cash Needed to Close
Down Payment$110,000
Estimated Closing Costs$19,250
Total Cash at Closing$129,250

These are estimates. A Home Path Realty agent can walk you through exact numbers for any property you are considering — no obligation, no pressure.

Speak With An AgentBrowse Buyer & Seller FAQs →
What Every Buyer Should Know
The Costs Beyond The Price Tag
01
Closing Costs Are Real Money

In New York, buyer closing costs typically range from 2% to 5% of the purchase price. That includes your attorney, title insurance, lender fees, recording taxes, and prepaid escrow items. On a $550,000 purchase, that is $11,000 to $27,500 on top of your down payment — money that must be liquid at the time of closing.

02
The 28/36 Rule

Most lenders follow this guideline: your total housing payment — mortgage, taxes, insurance, HOA — should not exceed 28% of gross monthly income. Your total debt payments, including housing, should stay below 36%. These are not hard limits, but exceeding them significantly narrows your lending options and increases your rate.

03
Maintenance Is Not Optional

Whether it is a co-op maintenance fee, condo common charges, or upkeep on a house, ongoing costs are part of the real monthly number. A common planning benchmark is 1% of the purchase price annually for a house, or the actual common charges for a condo or co-op. Skipping this line item is the most common budgeting mistake buyers make.

Resources
More Answers For Buyers & Sellers
Buying Your First HomeA practical roadmap from pre-approval through closing day.How Much Cash Do I Need?Down payment, closing costs, reserves, and what lenders actually require.Co-op vs. Condo vs. HouseWhat changes financially and structurally across property types.Seller QuestionsNet proceeds, pricing strategy, preparation, and what to expect.Selling and Buying at the Same TimeTiming, contingencies, and reducing transition risk.Full FAQ →Comprehensive answers for buyers, sellers, and those doing both.

The figures displayed on this page are estimates only and do not constitute a loan offer, financial advice, or a guarantee of terms. Actual mortgage rates, tax assessments, insurance premiums, and closing costs will vary based on lender, property, credit profile, and other factors. Home Path Realty recommends consulting with a licensed mortgage professional and a real estate attorney before making any purchase commitment. Home Path Realty is a licensed real estate brokerage and does not provide lending, tax, legal, or financial advisory services.