Question 1

How can I test my realistic price range?

Accepted Answer

Set What If 1 to $25k below your target and What If 2 to $25k above. The monthly spread is usually smaller than buyers expect — and it tells you exactly how much house-hunting flexibility you have.

Question 2

How do I compare down payment strategies side by side?

Accepted Answer

Try the same house with 10% vs. 20% down. The 20% column drops PMI entirely — sometimes the payment difference is small enough that keeping cash in reserve wins.

Question 3

What does a rate change actually cost over the life of a loan?

Accepted Answer

A 0.5% rate difference on a $400k loan is roughly $130/month — but tens of thousands in lifetime interest. The total-interest row makes rate-shopping tangible.

Question 4

Should I choose a 15-year or 30-year mortgage term?

Accepted Answer

Put your loan at both terms side by side. The 15-year payment is higher, but the lifetime interest savings often exceed six figures.

Question 5

How do I stress-test my mortgage budget?

Accepted Answer

Add 0.5% to today's rate. Rates move between pre-approval and closing. If the payment still fits your budget at half a point higher, you have a genuine cushion — not a best-case plan.

Question 6

What percentage of income should a mortgage payment be?

Accepted Answer

A common guideline is keeping total housing costs under about a third of gross income — but your real test is whether the payment fits alongside savings, debt payments, and lifestyle.

Question 7

Should I budget with or without PMI in my mortgage payment?

Accepted Answer

PMI eventually cancels on conventional loans, but budget for the payment as-is. Treat the future PMI drop as a bonus, not a plan.

Question 8

How much should I budget for home ownership costs beyond the mortgage?

Accepted Answer

Maintenance, repairs, and utilities typically add 1–2% of the home's value per year. A payment that maxes out your budget leaves nothing for unexpected repairs.

Mortgage Scenario Comparison Calculator

Why Compare Scenarios Side by Side?

Stress-Test Your Budget