Mortgage Calculator
Estimate your monthly mortgage payment
Loan Details
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Additional Costs
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Credit & PMI
PMI is auto-calculated when down payment is less than 20%
Extra Payments
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See how extra payments reduce your loan payoff time
$2,291
Estimated Monthly Payment
- Principal & Interest$1,816.07
- Property Tax$350.00
- Home Insurance$125.00
FHA Loan Details
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Additional Costs
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$2,802
Estimated Monthly Payment
- Principal & Interest$2,172.17
- Monthly MIP$154.80
- Property Tax$350.00
- Home Insurance$125.00
- Upfront MIP (rolled in)$5,910.63
VA Loan Details
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Disabled veterans are exempt from the VA funding fee
Additional Costs
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$2,676
Estimated Monthly Payment
- Principal & Interest$2,201.34
- Property Tax$350.00
- Home Insurance$125.00
- VA Funding Fee (2.15%, rolled in)$7,525.00
Current Loan
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New Loan
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$295/month
Refinancing could save you
New Monthly Payment$1,662
Current Monthly Payment$1,958
Refinance Fees$4,000
Lifetime Savings$92,331
*Hypothetical monthly mortgage payments reflect hypothetical Principal, Interest, Taxes, Insurance, and Home Owners Association dues amounts. These figures and rates are for educational purposes only and do not reflect an official mortgage loan offer. **This does not constitute tax advice.
Your Finances
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$336,515
You can afford up to
Max Monthly Housing$2,333
Principal & Interest$1,858
Tax$350
Insurance$125
DSCR Loan Details
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Rental Income
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Your lender's minimum required DSCR
Additional Costs
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1.06
Debt Service Coverage Ratio
Below 1.25 target
Monthly P&I Payment$2,097.64
Total Monthly Expenses$2,647.64
Gross Monthly Rent$2,800.00
Net Operating Income (monthly)$2,800.00
*DSCR loans are for investment properties. A DSCR of 1.25 or higher is typically required to qualify.
2-1 Buydown Loan Details
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Additional Costs
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Payment Schedule
Year 1
$1,978
5.00% rate
Year 2
$2,154
6.00% rate
Years 3-30
$2,338
7.00% rate
Buydown Cost
$6,526
This is typically paid by the seller or builder
Principal & Interest$1,862.85
Property Tax$350.00
Home Insurance$125.00
HOA Fees$0.00
*A 2-1 buydown temporarily reduces your interest rate by 2% in Year 1 and 1% in Year 2. The loan amortizes at the full note rate. Payments shown include P&I, tax, insurance, and HOA.