5.0 · 624 reviews · Jim Blackburn · NMLS #1072866
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Conventional · HomeStyle Renovation Purchase

Conventional Renovation HomeStyle Purchase Loan Payment Calculator

Finance a purchase plus renovation in one loan. Estimate total project cost, your loan amount, monthly payment, and the cash needed to close based on the after-repair value.

Built by Jim Blackburn · NMLS #1072866 · $500M+ closed · 7× Scotsman Guide Top Producer

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Estimate all labor and material costs.

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Estimate with sold comps in the last 6 months within a mile.

3% minimum (subject to HomeReady / Home Possible income limits).

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Are you thinking about buying another home after this one to continue your wealth journey?

Summary

Total Monthly Housing Expense$4,644
Cash Out of Pocket — without seller credit or DPA$87,231
Cash Out of Pocket — with 3% seller credit$72,231Assumes a 3% seller credit toward closing costs and prepaids.

Project Cost Buildup

Total Property Costs$610,000Purchase price + renovation costs + 10% contingency reserve.
6 Months Interest Reserves$21,350Prepaid interest for 6 months. No payments due during construction.
Total Financeable Allowable Costs$669,231Property costs + interest reserves + 6% estimated closing costs.

Loan & Payment

Maximum Loan Amount (per LTV)$582,000Percentage of after-repair value by property type, subject to conforming loan limits.
Desired Loan Amount$582,000
Principal & Interest Payment$3,872
Monthly Insurance$200
Monthly Taxes$417
Monthly PMI$155
HOA Paid Separately$0
Monthly Income Target to Qualify$9,288Fannie Mae allows up to 50% DTI; Freddie Mac up to 45% with strong credit and reserves.
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Estimates only — not a commitment to lend.

Jim Blackburn

By Jim Blackburn

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Important Disclaimer

This calculator is for illustrative purposes only and does not constitute financial, legal, or investment advice. Results are based on general assumptions and may not reflect actual performance or eligibility. This is not a loan estimate or approval. Please consult with a licensed mortgage advisor before making financial decisions.

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