US borrowing · Practical next steps
Full monthly housing budget
Build a monthly housing budget with mortgage payments, taxes, insurance, HOA, utilities and maintenance, then test changes in costs or income.
See the whole monthly housing budget
Example amounts are hypothetical. Enter your own confirmed figures; this tool does not determine eligibility or connect to a provider.
Enter the figures and build your summary.
Compare the full budget with the mortgage bill
The CFPB explains that mortgage payments can include taxes and insurance through escrow, while HOA charges are usually separate. This worksheet separates each component so an escrow difference does not hide an underlying household cost. Avoid entering the same insurance premium twice.
CFPB: principal and interest versus total monthly payment · Source checked November 9, 2026.
Compare written Loan Estimates · Choose purchase, refinance or equity tools
Worked example · Hypothetical USD inputs
A fixed loan payment does not fix the whole housing budget
Start with $300,000 at a 6% contractual note rate over 360 monthly periods. Annual property taxes are $4,800 and property insurance $1,800; monthly mortgage insurance is $100, HOA $150, utilities $250 and the maintenance reserve $200. Other spending and debt payments are $2,500.
| Scenario | P&I | Tax + property insurance monthly equivalent | Full monthly housing budget | Take-home income | Room after other spending |
|---|---|---|---|---|---|
| Starting budget | $1,798.65 | $550.00 | $3,048.65 | $6,500.00 | $951.35 |
| Taxes and insurance 20% higher | $1,798.65 | $660.00 | $3,158.65 | $6,500.00 | $841.35 |
| Take-home income $700 lower | $1,798.65 | $550.00 | $3,048.65 | $5,800.00 | $251.35 |
The higher-tax/insurance scenario adds $110.00 each month while P&I stays the same. The lower-income scenario changes the available room without changing any property cost. Neither scenario predicts a tax assessment, premium renewal or income change.
Documents to use for each input
- Principal and interest
- The written estimate or current loan statement, separate from escrow.
- Taxes
- The actual property’s bill or independently checked post-purchase estimate.
- Property insurance and mortgage insurance
- Separate quotes or statement lines; do not enter one premium twice.
- HOA and assessments
- Current dues plus the stated installment schedule for any special assessment.
- Utilities and maintenance
- Your own household assumptions, including seasonal costs and a reserve.
Scope and next steps
Educational planning only. Confirm actual costs, dates and terms before making commitments. Financial disclaimer · Editorial standards.