A $1,200 payment must cover more than just the loan itself. Lenders use a (Principal, Interest, Taxes, and Insurance) calculation:
~$95 (Required for down payments under 20%) Factors That Reduce Your Budget how much house can i buy for 1200 a month
The following estimates assume a at a current average interest rate of approximately 6.13% (as of April 2026). A $1,200 payment must cover more than just the loan itself