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CALCULATOR

Downsizing

Analyze the financial impact of selling your current home and purchasing a smaller property.

See How Much You Can Save

Property values and taxes are estimates, with actual costs potentially differing¹.
Key considerations include ongoing maintenance costs, lifestyle changes, real estate market fluctuations, moving costs, and timing factors like school districts and healthcare access.
This calculator is for educational purposes only. Your actual rate, payment, and costs could be higher. Get an official Loan Estimate before choosing a loan.

Current Market Value

Original Purchase Price

Remaining Mortgage Balance

Years Lived in Home

Monthly Payments

Principal & Interest

Property Tax

Insurance

HOA Fees

Your Monthly Payments

Congratulations! You could save $747 monthly and free up $450,000 in equity for other investments.

Current Payment

$3,350

New Payment

$2,603

Monthly Savings

$747

Payment Details

Sale Proceeds Summary

Gross Proceeds$752,000

Selling Costs-$48,000

Mortgage Payoff-$150,000

Net Proceeds$602,000

Equity Distribution

Total Available Equity$602,000

Down Payment Allocation-$200,000

Net Proceeds$402,000

Disclosures

¹ Interest may be tax deductible, consult a tax advisor for further information regarding the tax deductibility of interest and charges.

² For the purposes of this calculator, selling costs are estimated at 6% of the current market value of the home. This estimate includes typical expenses such as real estate agent commissions, closing fees, and other transaction-related costs. Actual selling costs may vary based on location, service providers, and individual circumstances.

Additional Disclosures

Calculators display default values. Information and interactive calculators are for educational purposes only and are not intended to provide financial or tax advice. Consult a tax advisor for further information regarding the deductibility of interest and charges. Loan terms and mortgage interest rates will depend on your individual circumstances. Your monthly payment may include additional costs such as taxes, insurance, HOA fees, and other costs which are not included. Results do not indicate approval of financing, contact a Mortgage Loan Officer to discuss your specific details.