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Calculators

Run the numbers before you apply.

Estimate what you can afford, compare a refinance, weigh renting against buying, or size up an investment property. Every result is an estimate built from the numbers you enter. Example rates are not quotes.

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How much home can you afford?

See the full monthly payment for a Conventional, FHA, VA, USDA or Jumbo loan, and how it compares with your income and debts.

Loan type
Income and debts

Before taxes, for everyone on the loan.

Car loans, minimum credit card payments and student loans. Leave out rent and utilities.

Home and loan

$17,500

Loan amount

$332,500

Home price minus down payment.

Example rate. Use the rate you were quoted or want to plan around.

Used to estimate PMI.

Taxes, insurance and dues

Leave blank to estimate from your credit score.

Estimated monthly payment

$2,562

Conventional · 5% down · $332,500 loan

Payment breakdown

Principal & interest
$2,102
Property taxes
$175
Homeowners insurance
$125
HOA dues
$0
PMI
$161

Debt-to-income ratio

Yours
32% / 40%
Conventional guideline max
50% / 50%

Housing payment / housing payment plus monthly debts, as a share of gross income.

Within the Conventional guideline maximum used here.

Loan details

Home price
$350,000
Down payment
$17,500 (5%)
Loan amount
$332,500
Loan-to-value
95%

Summary: Based on what you entered, your total payment would be about $2,562 a month on a Conventional loan with 5% down. Your debt-to-income ratio is 32%/40%, and the guideline maximum used here for this program is 50%/50%. Confirm these numbers with Alex. Monthly debts are where errors most often show up.

For your actual rate, costs and options, start your application or talk with Alex.

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Purchase payment

Estimate the monthly payment on a home purchase, what you’ll pay over the life of the loan, and how much sooner extra payments pay it off.

Home and loan

$40,000

Mortgage amount

$360,000

Example rate. Use the rate you were quoted or want to plan around.

As a percent of the loan, or a yearly dollar amount.

Taxes, insurance and dues
Schedule
First payment

Added to principal every month.

Show payment

Estimated monthly payment

$2,750

$360,000 loan · paid off October 2056

Monthly breakdown

Principal & interest
$2,275
Property taxes
$200
Homeowners insurance
$125
HOA dues
$0
PMI
$150
Extra payment
$0
PMI is included through November 2035, when the balance is scheduled to reach 78% of the purchase price.

Loan details

Home price
$400,000
Down payment
$40,000
Mortgage amount
$360,000

Over the life of the loan

Number of payments
360
Principal
$360,000
Total interest
$459,160
Taxes, insurance, PMI and dues
$133,350
Total of all payments, with down payment
$992,510
Payoff
October 2056

For your actual rate, costs and options, start your application or talk with Alex.

Start your applicationCall Alex
Early payoff strategy

Pay more often, or add to each payment, and see how much sooner the loan is paid off.

Payment frequency

Bi-weekly and weekly plans pay half of the monthly principal and interest each time, which adds up to one extra monthly payment a year.

Lump sum payment

Put a lump sum straight to principal.

How often

Paid off

December 2050

Instead of October 2056 on the schedule above.

Interest saved
$105,746
Shorter by
5 years 10 months
Bi-weekly P&I
$1,138
You’d pay $105,746 less interest and finish 5 years 10 months sooner.

Refinance

Compare your current loan with a new one: the change in your payment, total interest, and how long it takes to earn back the costs.

What matters most to you?
Current loan
Loan start date
New loan

From your latest mortgage statement.

Closing costs and fees.

Paying the costs

New loan amount

$336,000

Balance plus cash out and any financed costs.

Example rate. Use the rate you were quoted.

New loan start date

Monthly payment decrease

$319

Total interest savings: $9,430

Refinance costs
$4,500
Time to recoup
1 year 3 months
Cash to close
$4,500

Monthly payment comparison

Current loan
$2,388
New loan
$2,069

Total interest comparison

Current loan, remaining interest
$418,202
New loan interest
$408,772
Your principal and interest payment would drop by $319 a month, and the savings would cover the $4,500 in costs in about 1 year 3 months. Over the new loan you’d pay $9,430 less interest than what’s left on the current loan.
Current payment (principal & interest)
$2,388
New payment (principal & interest)
$2,069
Payments made on the current loan
44
New loan amount
$336,000

By refinancing an existing loan, total finance charges may be higher over the life of the loan. Payments shown are principal and interest only.

For your actual rate, costs and options, start your application or talk with Alex.

Start your applicationCall Alex

Rent vs. buy

Weigh the cost of renting against owning, counting appreciation, equity, tax savings and selling costs, year by year.

Mortgage

Loan amount

$450,000

Example rate. Use the rate you were quoted.

Until the balance reaches 78% of the price.

Ownership costs (yearly)
Buying assumptions

Used to estimate tax savings on interest, taxes and PMI. Not tax advice.

Renting assumptions
3 years

Buying comes out ahead by

$5,035

Buying starts to come out ahead in year 3.

Net cost over 3 years

Renting
$93,006
Buying, after selling
$87,971

After 3 years of owning

Home value
$546,364
Loan balance
$433,878
Equity
$112,486
Selling costs
$32,782
Out of pocket to own
$167,675
Estimated tax savings (included)
$25,156
Rent and renters insurance
$93,006

Out of pocket: Owning a $500,000 home for 3 years would cost about $167,675 out of pocket, including the down payment. Renting would cost about $93,006.

What you’d build: After 3 years, your equity would be about $112,486, which you could access when you sell.

Counting costs and equity, buying comes out about $5,035 ahead if you stay 3 years.

For your actual rate, costs and options, start your application or talk with Alex.

Start your applicationCall Alex

VA purchase payment

Estimate a VA purchase payment, including the VA funding fee, with no monthly mortgage insurance.

Home and loan

$0

Base mortgage amount

$400,000

Example rate. Use the rate you were quoted or want to plan around.

VA funding fee: 2.15%

Final mortgage amount

$408,600

Includes the financed VA funding fee.

Taxes, insurance and dues
Schedule
First payment

Added to principal every month.

Show payment

Estimated monthly payment

$2,908

$408,600 loan · paid off October 2056

Monthly breakdown

Principal & interest
$2,583
Property taxes
$200
Homeowners insurance
$125
HOA dues
$0
Extra payment
$0

Loan details

Home value
$400,000
Down payment
$0
Base mortgage amount
$400,000
VA funding fee (2.15%)
$8,600
Final mortgage amount
$408,600

Over the life of the loan

Number of payments
360
Principal
$408,600
Total interest
$521,147
Taxes, insurance and dues
$117,000
Total of all payments, with down payment
$1,046,747
Payoff
October 2056

For your actual rate, costs and options, start your application or talk with Alex.

Start your applicationCall Alex
Early payoff strategy

Pay more often, or add to each payment, and see how much sooner the loan is paid off.

Payment frequency

Bi-weekly and weekly plans pay half of the monthly principal and interest each time, which adds up to one extra monthly payment a year.

Lump sum payment

Put a lump sum straight to principal.

How often

Paid off

December 2050

Instead of October 2056 on the schedule above.

Interest saved
$120,022
Shorter by
5 years 10 months
Bi-weekly P&I
$1,291
You’d pay $120,022 less interest and finish 5 years 10 months sooner.

VA refinance

Compare a VA cash-out refinance or an Interest Rate Reduction Refinance Loan (IRRRL) with your current loan.

What matters most to you?
Current loan
Loan start date
New loan

VA funding fee: 2.15%

From your latest mortgage statement.

Closing costs and fees.

Paying the costs

New loan amount

$343,224

Balance plus cash out, any financed costs and the VA funding fee.

Example rate. Use the rate you were quoted.

New loan start date

Monthly payment decrease

$274

Total interest savings: $641

Refinance costs
$11,724
Time to recoup
3 years 7 months
Cash to close
$4,500

Monthly payment comparison

Current loan
$2,388
New loan
$2,113

Total interest comparison

Current loan, remaining interest
$418,202
New loan interest
$417,560
Your principal and interest payment would drop by $274 a month, and the savings would cover the $11,724 in costs in about 3 years 7 months. Over the new loan you’d pay $641 less interest than what’s left on the current loan.
Current payment (principal & interest)
$2,388
New payment (principal & interest)
$2,113
Payments made on the current loan
44
VA funding fee (2.15%, financed)
$7,224
New loan amount
$343,224

By refinancing an existing loan, total finance charges may be higher over the life of the loan. Payments shown are principal and interest only.

For your actual rate, costs and options, start your application or talk with Alex.

Start your applicationCall Alex

Debt-service coverage (DSCR)

For rental properties: see how the rent covers the payment, plus cash flow, cap rate and cash-on-cash return.

Loan purpose
Property and rent
Operating costs

Repairs and maintenance.

Financing

30-year fixed, fully amortizing.

Loan amount

$300,000

Example rate. Use the rate you were quoted.

Debt-service coverage ratio (DSCR)

1.20

$3,200 monthly rent ÷ $2,664 monthly payment (PITIA)

Rent covers the full payment. Each lender sets its own minimum DSCR.
Annual cash flow
$2,808
Cap rate
7%
Cash-on-cash
2.56%

Loan and closing

Loan amount
$300,000
Down payment
$100,000
Monthly principal & interest
$2,098
Monthly payment with taxes, insurance and HOA
$2,664
Origination fee
$3,000
Total closing costs
$9,500
Cash needed to close
$109,500

Property income

Price per unit
$400,000
Gross rental income (yearly)
$38,400
Operating expenses (yearly)
$10,420
Net operating income
$27,980

Operating expenses include taxes, insurance, HOA dues, utilities, repairs and vacancy. Cash flow is net operating income minus principal and interest. Cash-on-cash return is based on your down payment plus closing costs.

For your actual rate, costs and options, start your application or talk with Alex.

Start your applicationCall Alex

Fix and flip

Estimate the loan, cash needed, carrying costs and profit on a property you plan to renovate and sell.

The project

What the home should sell for once the work is done.

Financing

Interest-only. The loan covers the purchase price at your chosen LTV plus 100% of the renovation.

Example rate. Use the rate you were quoted.

Estimated net profit

$72,125

After a 9-month hold and selling at $750,000

Return on investment
43.61%
Your equity needed
$124,500
Loan to after-repair value
63.33%

Loan

Loan amount
$475,000
Down payment
$100,000
Monthly interest payment
$3,958
Total interest over the loan
$35,625

Costs

Origination fee
$9,500
Other closing costs
$15,000
Closing costs
$24,500
Carrying costs (interest, taxes, insurance)
$40,875
Cost to sell
$37,500
Total cash in the deal
$165,375

Return on investment is net profit divided by your total cash in the deal (down payment, closing costs and carrying costs). LTVs above 80% are generally for experienced investors.

For your actual rate, costs and options, start your application or talk with Alex.

Start your applicationCall Alex

About these estimates

  • These calculators are for illustration only. Results are not a loan offer, a commitment to lend, a rate quote or a Loan Estimate, and they don’t check eligibility.
  • Interest rates shown are examples. Your rate, fees and payment depend on your credit, income, assets, property, loan program and market conditions.
  • Mortgage insurance and program fees are estimates: PMI by credit score band, FHA mortgage insurance from HUD’s premium schedule, the VA funding fee schedule and USDA guarantee fees. Debt-to-income limits shown are general guidelines, not approval criteria.
  • Rent vs. buy tax savings are a rough estimate, not tax advice. Talk with a tax professional about your situation.
  • By refinancing an existing loan, total finance charges may be higher over the life of the loan.
  • Loans are offered by Origna8 Mortgage LLC, NMLS #2336339. Not all products are available in every state.