Search by Monthly Payment

Search for homes by monthly payment! This search allows you to use your budget to search for homes that you can afford. This is for educational purposes only but gets you in the ballpark!

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Search For Homes by Monthly Payment

One of our site's newest "PREMIUM" features is the "Search by Monthly Payment*" option.

With what seems like constant changes to the mortgage rate, we have found that many of our clients are focusing on the actual monthly payment for a home rather than just looking at the asking price or "list price" of the home.

Working With Your Budget

Most people have a budget that they want to stick with when they buy a home, and after talking to a mortgage professional, you may find you can actually afford a bigger monthly payment, but you have made the decision to stay within a range that is more comfortable for you.

So, instead of looking for Nashville homes for sale in the $650 to 750K range, knowing that you will be using a downpayment of 3.5%, you can look for homes in that approximate monthly payment range ie, $4,250 to $4,500 a month*. This monthly payment is for principal and interest only and doesn't include taxes and insurance, so is really only to be used for educational purposes only in that you will be in the ballpark of what the home will cost. Your credit score can also effect your ability to get a lower interest rate.

There are other factors that come into play as the final home price could be reduced or increased, depending on the real estate market conditions at the time. 

Example Results

The image below shows the results from a search for homes with a payment range of $4,000 to $4,500 a month using the 3.5% downpayment and an interest rate of 6.75% *

The "monthly payment search" is intended to be used for educational purposes only for our PREMIUM users. Actual mortgage rates and monthly payment amounts are subject to market fluctuations, which depend on several external factors. The payment estimates are based on the listing information from Realtracs, the local MLS board, and they do not include other costs and fees which a lender may assess. These would be in addition to the monthly principal and interest amounts, such as taxes and insurance, and the actual payment obligation may be greater. Talk to a mortgage professional to determine your actual monthly payments.