Calculator
Enter price, down payment assumptions, credits, and all funding sources. The form uses a three-column layout on large screens, two columns on smaller screens, and one column on mobile.
Example Data Table
| Scenario | Purchase Price | DP % | Closing % | Credits | Available Funds | Result |
|---|---|---|---|---|---|---|
| Starter Home | $320,000 | 10% | 3% | $6,000 | $46,000 | Small surplus |
| Move-Up Purchase | $575,000 | 20% | 2.5% | $11,500 | $132,000 | Comfortable surplus |
| Grant Assisted | $410,000 | 5% | 3% | $9,000 | $33,500 | Near breakeven |
| Low Savings Case | $450,000 | 15% | 3% | $5,500 | $48,000 | Funding gap remains |
These examples are illustrative only. Real files, underwriting conditions, and regional closing costs can change the final requirement.
Formula Used
Down Payment Amount = Manual Down Payment Amount, if entered. Otherwise, Purchase Price × Down Payment %.
Closing Costs = Purchase Price × Closing Cost %.
Required Reserves = Monthly Housing Payment × Reserve Months.
Gross Cash Uses = Down Payment + Closing Costs + Inspection/Appraisal + Moving/Setup + Repair Escrow + Required Reserves.
Credits Applied = Earnest Money Paid + Seller Credit + Lender Credit.
Remaining Cash Required = Gross Cash Uses − Credits Applied.
Available Funds = Savings + Gift Funds + Grant Assistance + Sale Proceeds + Other Verified Funds.
Funding Gap or Surplus = Available Funds − Remaining Cash Required.
Estimated Loan Amount = Purchase Price − Down Payment Amount.
Estimated LTV = Estimated Loan Amount ÷ Purchase Price × 100.
How to Use This Calculator
- Enter the target purchase price for the property.
- Add either a down payment percentage or a manual down payment amount.
- Estimate closing costs, reserves, and any optional planning costs such as repairs or moving.
- Add credits already reducing cash due at closing, including earnest money, seller credits, and lender credits.
- Enter documented funding sources like savings, gifts, grants, sale proceeds, and other verified funds.
- Submit the form and review the summary, funding gap or surplus, tables, and chart.
FAQs
1. What does this calculator estimate?
It estimates how much cash is still needed after credits, then compares that requirement with your documented funding sources and reserves.
2. Does a seller credit count like cash?
Not exactly. A seller credit usually lowers eligible closing expenses, so it reduces remaining cash required instead of acting like new money in your bank account.
3. Why include earnest money here?
Earnest money is often already paid and later applied toward closing. Including it helps estimate what cash still needs to be brought to closing.
4. Can gift funds be used for every loan program?
No. Different loan products and lenders set different rules for gift eligibility, documentation, donor relationships, and permitted uses.
5. What are reserves in this calculator?
Reserves are extra verified assets remaining after closing. Many lenders want a certain number of future housing payments available as a cushion.
6. Should I enter moving costs and repairs?
Yes, if you want a conservative planning model. Those items are not always part of lender cash-to-close math, but they matter for real affordability.
7. Why might my actual loan estimate differ?
Actual disclosures depend on taxes, insurance, rate lock timing, program rules, prepaid items, and local fees, so this tool is a planning estimate.
8. Can this calculator replace lender advice?
No. Use it to organize assumptions and compare scenarios, then confirm final numbers with your lender, agent, or housing counselor.