Interactive Tool
Charlotte Home Budget Planner
Determine if your home building or renovation project fits your budget. Calculate cash needs, monthly payments, and affordability.
$700,000
$100K$3M
$150,000
$0$1M
$12,000
$1,500
$2,000/mo
Stretch
This project is doable but will stretch your finances. Consider reducing scope or increasing savings.
Financial Summary
Project Budget$700,000
+ Soft Costs (12%)$84,000
+ Contingency (15%)$105,000
Total Needed$889,000
Down Payment (20%)$140,000
Cash Needed at Close$329,000
Est. Monthly Payment$3,540
Debt-to-Income Ratio42%
Savings Gap
$74,000
At $2,000/month, you'll need approximately 37 months to save enough.
This planner uses estimated 6.5% mortgage rates and standard Charlotte construction cost assumptions. Consult a financial advisor and lender for personalized guidance.