See what you can afford—and what you’ll earn
Explore how much house you can buy together, and how your investment could grow over time with our Co-Buy Calculator.
A different approach
Our co-buy calculator isn’t like other mortgage calculators. When you’re considering buying a home with someone, it’s nice to get an idea of what you can afford together. So we ask:
From there, we estimate the home price you can afford. Pretty cool, huh?
What you could have in the future
We’re no good with a crystal ball, so instead we use your financial contributions and an estimate of your home’s appreciation rate to predict how each person’s investment will grow.
Before you get started
Let’s go over a few key points before you dive in.
We’ve started with some standard inputs.
Namely, a 30-year mortgage at the current average interest rate. Experiment with others!
Appreciation rate = value growth over time
This varies widely, so we’ve used a conservative estimate (5%). Try others and see what your future may hold!
Equity = value minus debt
Equity is the difference between the current value of your home and the amount you still owe on it.
How many people are co-buying?
Buyer 1 down payment
Buyer 1 monthly mortgage payment
Buyer 2 down payment
Buyer 2 monthly mortgage payment
Buyer 3 down payment
Buyer 3 monthly mortgage payment
Buyer 4 down payment
Buyer 4 monthly mortgage payment
Buyer 5 down payment
Buyer 5 monthly mortgage payment
Mortgage inputs:
Years on mortgage
Interest rate
Equity growth inputs:
Appreciation rate
Years owning home
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Purchase Price
This estimate doesn't include property taxes, insurance, or closing costs. Your mortgage lender will take all of these into account, along with credit scores and existing debt, when determining the purchase price you can afford.
How your investment could grow
If your home appreciates at a rate of % per year, it will be worth $ in years.
Home equity
Your home's equity is the difference between its value and the amount still owed on the mortgage. Equity is divided among co-owners according to ownership percentage. For example, a co-owner with a 60% ownership percentage would be entitled to 60% of the home's equity.
Ownership percentages
Ownership percentages can change over time. For example, if you paid 20% of the down payment and closing costs, your initial ownership percentage would be 20%. If you then paid 60% of the mortgage payment each month, your percentage would grow. Learn more about this in the Pairadime Agreement 101.
The graph below shows how much of the home's equity each co-buyer will receive.
Now that you have an idea of what you can afford, let’s make it happen.
Answer a few questions and we’ll get you the resources you need to take the next step.