Home Buying Cost Table
| Upfront line | $300,000 | $450,000 | $600,000 |
|---|---|---|---|
| Down payment 20% | $60,000 | $90,000 | $120,000 |
| Closing costs (2-4%) | $6,000-12,000 | $9,000-18,000 | $12,000-24,000 |
| Inspection + appraisal | $800-1,400 | $800-1,400 | $800-1,400 |
| Moving (local) | $800-2,500 | $800-2,500 | $800-2,500 |
| First-year repair fund (1-3%) | $3,000-9,000 | $4,500-13,500 | $6,000-18,000 |
| Monthly (20% down, 6.5% 30yr) | $300,000 | $450,000 | $600,000 |
|---|---|---|---|
| P&I | $1,517 | $2,275 | $3,034 |
| Property tax (1.1%) | $275 | $413 | $550 |
| Insurance ($150 avg) | $150 | $150 | $150 |
| All-in | $1,942 | $2,838 | $3,734 |
Every 'can I afford this house' conversation stops at the down payment, but the cash you bring to the closing table is four or five separate line items deep, and the monthly payment your lender quotes is only P and I - taxes and insurance ride on top. This is the whole table: the upfront cost ladder at three common price points, and the honest monthly figure once tax and insurance join the payment.
Bottom line: on a $450,000 house with 20% down you bring roughly $101,000 to $110,000 in cash - $90,000 down, $9,000-18,000 closing, and $1,350 to $3,900 more for inspection, appraisal, moving and the first repair - then pay about $2,838 a month with taxes and insurance inside, not the $2,275 P&I the quote shows.
Two honest caveats before you read the numbers: property tax here uses a 1.1% effective rate (the rough national average - your county can be double that or half), and insurance uses $150 a month (coastal and hail states run much higher). Both columns are adjustable in the calculator below - the table is the reference, your county is the truth.
How to use
- Find your price bracket in the two static tables - upfront cash on the first, monthly payment on the second.
- Type your actual price into the calculator for interpolated numbers at your budget, not the three columns.
- Adjust tax and insurance if you know your county rate and quote; the defaults are national averages and say so.
Frequently asked questions
How much cash do I need to buy a $300,000 house?
With 20% down: $60,000 down payment, $6,000-12,000 in closing costs (2-4% of price), inspection and appraisal around $800-1,400, moving $800-2,500, and a $3,000-9,000 repair reserve for the first year - so roughly $70,600 to $84,900 in cash. With 10% down the entry drops to about $43,000-57,000, at the price of a higher monthly payment and, on most conventional loans, private mortgage insurance the tables here do not include.
What are closing costs, exactly?
Lender origination, title search and insurance, escrow setup, recording fees, and prepaids - the first year of insurance and a few months of property tax collected at signing. The honest range is 2-4% of the purchase price: $6,000-12,000 on a $300,000 house. Lender credits can shave them in exchange for a higher rate, and the seller can agree to cover some on certain loans - the Closing Disclosure you get three days before signing lists every one of them.
Why is the real monthly payment higher than my lender's quote?
Because the quote is P&I only - principal and interest on the loan. Property tax (1.1% of value a year here, so $275 a month on a $300,000 house) and homeowners insurance (about $150 a month nationally) usually get collected inside the same monthly check through escrow. On a $300,000 house with 20% down that takes $1,517 of P&I to about $1,942 all-in - a 28% difference the payment table makes visible.
Do these numbers include PMI or HOA fees?
No - and both can be real money. PMI on a conventional loan with under 20% down runs roughly 0.4-1.5% of the loan a year ($90-340 a month on a $270,000 loan); HOA fees range from $50 to $500+ a month and rise. FHA loans add an upfront premium and annual mortgage insurance instead. This table shows the cleanest case - 20% down conventional - so you can see the floor; add your own PMI or HOA line on top if your down payment or neighborhood calls for it.