How much cash should you plan for your next home?

Your working estimate of the price a buyer will pay. Example: $350,000. Try a lower price too. This is not an automated home valuation.

The amount needed to pay off your mortgage and any other liens at closing. Example: $224,000. Ask for a dated payoff quote, which may differ from the balance in your mortgage app.

A single allowance for selling expenses such as negotiated brokerage compensation, title or closing charges, and applicable prorations. Example only: 6% of $350,000 is $21,000. This is not a standard fee. Use a local net sheet and leave repairs and seller credits in the next field.

Repairs are money you expect to spend fixing the home. Seller credits are amounts you agree to contribute toward the buyer’s costs under the contract. Example: $2,000 in repairs plus a $3,000 buyer closing cost credit = $5,000 here. Do not also include these in combined selling costs.

The amount you plan to pay for the next home. Example: $400,000. This is a planning assumption, not a listing price prediction.

The share of the purchase price you pay upfront instead of borrowing. Example: 20% of $400,000 = $80,000. Loan requirements vary. This is separate from closing costs.

An allowance for purchase closing charges, prepaid expenses, and initial escrow funding. Example only: 3% of $400,000 = $12,000. Use your lender’s Loan Estimate for your transaction. This tool does not separately subtract deposits already paid.

Moving and setup expenses outside closing. Example budget: $2,000 for movers plus $1,000 for travel and setup = $3,000. Replace this example with quotes for your move.

Money you want to have left after the purchase and move. Example: $10,000. It is included in the cash budget but is not a payment to anyone.

The annual interest rate used to estimate principal and interest. The starting 6.5% is an example, not a current rate or an offer. Use a lender quote. This tool assumes a fixed rate.

How long the loan is scheduled to last. Example: 30 years means 360 monthly payments. The term must be greater than zero.

The estimated annual property tax for the next home. Example: $3,600 a year adds $300 per month. Verify the amount for the property and your circumstances with local sources.

Annual homeowners and any separate property insurance you expect to pay. Example: $1,800 a year adds $150 per month. Get address specific quotes and include separate coverage where applicable.

Regular homeowners association dues per month. Example: $300 quarterly = $100 monthly. Enter 0 if none apply. Special assessments need a separate budget.

Monthly mortgage insurance, if required for your loan. Example only: a lender quote of $120 per month belongs here. Enter 0 only when it does not apply. This is separate from homeowners insurance.