See what your numbers mean.
A clearer payment. A better comparison. Explore the possibilities, then let’s make them personal.
Starting figures are hypothetical, not current rates or a loan offer. Calculations run in your browser. These tools do not send or save the numbers you enter.
What could the monthly payment be?
Start with the home and what you plan to put down. We’ll calculate the loan amount and estimated payment. Choose Refinance to explore a new loan on the home you already own.
Use an estimated payoff from your statement. This view adds cash out and financed costs; final payoff, costs, and program eligibility need confirmation.
Estimated loan amount: $400,000
Fixed-rate, fully amortizing estimate. Enter the note interest rate, not APR.
Move the slider or enter an exact rate above.
Taxes, insurance, and association dues
The starting 1.1% is a hypothetical annual tax assumption, not a property-specific quote. Purchase uses the price you enter. Refinance uses the taxable assessed value from your tax bill, which may differ from market value. Add Mello-Roos or other fixed assessments separately without counting them twice. Supplemental bills are not calculated.
Results update as you adjust your numbers.
Hypothetical purchase: $500,000 price with 20% down gives a $400,000 loan. At 6.5% over 30 years, principal and interest is $2,528.27 per month. With a 1.1% annual tax assumption and $150 monthly insurance, the estimate is $3,136.61 per month.
How the math works
Principal and interest = L × r ÷ [1 − (1 + r)−n]. L is the loan amount, r is the annual note interest rate divided by 1,200, and n is the number of monthly payments. At zero interest, divide L by n. Add the monthly taxes, insurance, dues, and mortgage insurance entered above.
Purchase loan = price − down payment. Refinance loan = mortgage payoff + cash out + financed costs. Monthly property taxes = tax basis × annual tax percentage ÷ 1,200 + additional monthly assessments. The purchase tax basis is the entered price; the refinance basis is the entered taxable assessed value.
Taxes, insurance, dues, and mortgage insurance may change. Utilities, maintenance, closing costs, and special assessments not entered are additional. This does not model an adjustable rate, interest-only period, buydown, balloon, or APR. CFPB: understanding the mortgage payment.
For California property-tax context, see the Board of Equalization’s ownership and assessment guidance. Confirm the property’s tax details with the county and your loan team.
Does the rental budget work?
Use the housing expense defined by the selected program. Enter additional operating allowances only if they are not already included in that expense.
Results update as you adjust your numbers.
Hypothetical example: DSCR 1.20. Cash flow after housing and additional operating allowances: −$190.00 per month.
How the math works
DSCR = qualifying monthly rent ÷ qualifying monthly housing expense. Illustrative cash flow = rent − housing expense − additional operating allowances.
Include vacancy, management, maintenance, and major repairs in your ownership budget without counting any cost twice. Program definitions can differ. This tool does not determine eligibility, tax returns, appreciation, or a return on investment. Explore the DSCR budget example.
How do the monthly debts compare with income?
Use qualifying gross monthly income and the debts the lender would count. If those amounts are uncertain, ask the team to verify them.
Results update as you adjust your numbers.
Hypothetical example: ($2,800 + $500) ÷ $10,000 × 100 = 33.00%.
How the math works
DTI = (proposed monthly housing expense + other qualifying monthly debt payments) ÷ qualifying gross monthly income × 100.
This does not set an approval limit or replace a household budget. Taxes withheld, groceries, child care, savings, and other living costs also affect comfort. CFPB: debt-to-income ratio.
What additional cash might I need at closing?
A simplified purchase estimate. Enter total costs before the eligible credits below. Include prepaid items and initial escrow funds. Do not subtract a deposit or credit twice.
Results update as you adjust your numbers.
Hypothetical example: $50,000 down payment + $12,000 costs − $5,000 eligible credits − $10,000 deposit = $47,000 additional cash to close.
How the math works
Down payment = purchase price × down payment percentage ÷ 100. Additional cash = down payment + listed costs − eligible credits − deposit already paid.
Only enter credits the program permits for the listed costs. Seller and lender credits cannot simply substitute for the required down payment. This estimate excludes financed costs, assistance, prorations, other funds already paid, and transaction adjustments. Required reserves and moving expenses are separate. Confirm the final amount with your settlement team. CFPB: reading the Closing Disclosure.
When might monthly savings cover the cost?
Use the net additional cost of the option and comparable monthly savings. A lower payment from extending the loan term is not necessarily a lower total cost.
Results update as you adjust your numbers.
Hypothetical example: $6,000 ÷ $200 = 30 months.
How the math works
Simple break-even in months = net additional cost ÷ monthly savings. With no monthly savings, there is no simple break-even point.
Compare remaining loan balances, time in the home, the new term, and possible later payment changes separately. For refinance costs added to the balance, also consider the interest on those costs. Compare refinancing savings beyond the rate.
Bring the numbers back to your goals.
We can help confirm the assumptions and compare the options for your situation.
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