Jumbo Renovation Purchase Loan Calculator
- By Jim Blackburn
- on
- Tags: Calculators, New Construction, Spec Homes
Estimate Your Monthly Payment & Cash to Close When Buying and Renovating a Property
Looking to purchase a home and renovate it into your dream property—all with one jumbo loan? Whether you’re customizing a primary residence, enhancing a vacation home, or flipping a luxury rental, this calculator helps you estimate the costs, financing, and monthly payment for a jumbo renovation purchase loan.
Project Overview
| Category | Amount |
|---|---|
| Purchase Price | $900,000 |
| Soft Costs (permits, design, engineering) | $30,000 |
| Hard Costs (labor and materials) | $500,000 |
| After Repair Value (ARV) | $3,000,000 |
| Loan Term | 30 years |
| Estimated Interest Rate | 6.99% fixed after build-out (Interest-only during construction period estimated at 9.99%) |
| Annual Insurance | $6,000 |
| Annual Property Taxes | $12,000 |
| Monthly HOA (if any) | $0 |
Loan Summary
| Detail | Amount |
|---|---|
| Total Property Costs(Purchase + Soft + Hard Costs + 10% contingency) | $1,480,000 |
| 6 Months Interest Reserve(Prepaid during build-out period) | $41,381 |
| Total Financeable Allowable Costs(Includes 4% estimated closing costs) | $1,580,581 |
| Maximum Loan Amount (Based on ARV & LTV) | $1,264,465 |
| Desired Loan Amount(80% of costs covered by loan) | $1,264,465 |
| Estimated Cash to Close (Without Seller Credit) | $316,116 |
| Estimated Cash to Close (With 4% Seller Credit) | $280,116 |
Estimated Monthly Payment Breakdown (Post-Renovation)
| Payment Type | Amount |
|---|---|
| Principal & Interest | $8,404 |
| Monthly Insurance | $500 |
| Monthly Taxes | $1,000 |
| HOA (if applicable) | $0 |
| Total Monthly Housing Expense | $9,904 |
Income to Qualify
To qualify for this jumbo renovation loan, your estimated target monthly income should be $23,033, assuming a debt-to-income (DTI) ratio cap of 43%. Strong reserves and high credit may allow some flexibility.
Ready to Transform a Home into a Masterpiece?
With your renovation budget structured and your monthly payment estimated, now is the time to take the next step. Whether you’re an investor or homeowner, our team can help you get preapproved for a jumbo purchase-renovation loan that fits your goals.
Get a Jumbo Buy Rehab Approval
Ready to Take Your First Step?
Skip the guesswork. Take our quick Discovery Quiz to uncover your top financial priorities, so we can guide you toward the wealth-building strategies that fit your life.
- 💡 Takes just 5 minutes
- 📊 Tailored results based on your answers
- 🔒 No credit check required
Need a Pre-Approval Letter—Fast?
Buying a home soon? Complete our short form and we’ll connect you with the best loan options for your target property and financial situation—fast.
- 💡 Only 2 minutes to complete
- 📊 Quick turnaround on pre-approval
- 🔒 No credit score impact
Got a Few Questions First?
Let’s talk it through. Book a call and one of our friendly advisors will be in touch to guide you personally.
Schedule a CallImportant Disclaimer
This calculator is for illustrative purposes only and does not constitute financial, legal, or investment advice. Results are based on general assumptions and may not reflect actual performance or eligibility. This is not a loan estimate or approval. Please consult with a licensed mortgage advisor before making financial decisions.
