CoBuy Budget Calculator

The CoBuy Budget Calculator is an affordability tool that shows groups of two to four co-buyers their combined purchasing power when buying a home together. Unlike standard mortgage calculators built for a single buyer or married couple, it accepts separate financial inputs for each participant and produces both group-level totals and per-person breakdowns — giving each member of a co-buying group a clear picture of what they can afford together and what their individual share looks like.

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How It Works

Each co-buyer enters two figures: their monthly housing contribution and their cash to close, which includes down payment and closing costs. The calculator combines these inputs with adjustable settings for mortgage rate, closing cost percentage, property tax rate, insurance rate, and HOA or miscellaneous monthly expenses. The default mortgage rate is pulled from live Federal Reserve Economic Data (FRED), so estimates reflect current market conditions without requiring manual rate lookup.

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What It Produces

The calculator outputs the group's maximum purchase price, total loan amount, combined down payment, total monthly cost, and each co-buyer's share of the monthly payment. When the combined down payment falls below common thresholds, it flags that private mortgage insurance (PMI) may apply. This gives groups a realistic estimate that accounts for the full cost of co-ownership — not just the mortgage payment.

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Where It Fits in the CoBuy Ecosystem

The Budget Calculator is a free standalone tool designed for early-stage exploration. It answers the financial question — how much house can we afford together — but does not assess whether the group is aligned on goals, timelines, usage, or exit strategy. Groups that want to evaluate alignment and readiness can proceed to the CoBuy Wizard, which covers the non-financial dimensions of co-buying viability.

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Key Points

• Accepts separate financial inputs for 2–4 co-buyers and produces both group totals and per-person shares
• Uses live mortgage rates from Federal Reserve Economic Data (FRED) as the default
• Factors in property tax, insurance, HOA, closing costs, and PMI — not just the mortgage payment
• Designed for co-buyers, not single buyers or married couples using standard calculators
• Free standalone tool that sits upstream of the CoBuy Wizard in the CoBuy ecosystem