Calculator
Affordability Calculator
Payment Breakdown
$3,328.56
per month
- Principal & Interest $2,328.56
- Taxes $437.50
- Insurance $125.00
- HOA Dues $0.00
- PMI $437.50
Loan Details
- Home Value: $350,000.00
- Mortgage Amount: $350,000.00
- Monthly Conventional Payment: $2,328.56
- Down Payment: $0.00
- Monthly Estimated PMI: $437.50
Monthly Mortgage Payment
$3,328.56
Loan Amount$350,000.00
Your Debt to Income Ratio
66.57%/96.57%
Allowable Debt to Income Ratio50%/50%
Purchase Price
Down Payment $0
Summary: Based on what you input into today your Total Payment would be $3,328.56 on a Conventional Loan with a 0.00% Down Payment. Your Debt-to-Income Ratio is 66.57%/96.57% and the maximum allowable on this program type is 50%/50%. Please confirm all these numbers for accuracy with your loan officer. The Monthly Debts Calculation is often where we see errors.
Payment Breakdown
$2,425.35
per month
- Principal & Interest
- Taxes
- Insurance
- HOA Dues
- MIP
Loan Details
- Home Value:
- Base Loan Amount:
- Monthly FHA Payment:
- Down Payment:
- FHA Loan Amount:
- Upfront MIP:
Monthly Mortgage Payment
Loan Amount
Your Debt to Income Ratio
/
Allowable Debt to Income Ratio46.9%/56.9%
Purchase Price $350000
Down Payment $0
Summary: Based on what you input into today your Total Payment would be $2850 on a FHA Loan with a Down Payment of 15%. Your Debt-to-Income Ratio is 32%/45% and the maximum allowable on this program type is 46.9%/56.9%. Please confirm all these numbers for accuracy with your loan officer. The Monthly Debts Calculation is often where we see errors.
Payment Breakdown
$2,425.35
per month
- Principal & Interest
- Taxes
- Insurance
- HOA Dues
Loan Details
- Home Value:
- Base Loan Amount:
- Monthly VA Payment:
- Down Payment:
- VA Loan Amount:
- VA Funding Fee:
Monthly Mortgage Payment
Loan Amount
Your Debt to Income Ratio
/
Allowable Debt to Income Ratio65%/65%
Purchase Price $350000
Down Payment $0
Summary: Based on what you input into today your Total Payment would be $2850 on a VA Loan with a Down Payment of 15%. Your Debt-to-Income Ratio is 32%/45% and the maximum allowable on this program type is 65%/65%. Please confirm all these numbers for accuracy with your loan officer. The Monthly Debts Calculation is often where we see errors.
Payment Breakdown
$2,425.35
per month
- Principal & Interest
- Taxes
- Insurance
- HOA Dues
- USDA MIP
Loan Details
- Home Value:
- Base Loan Amount:
- Monthly USDA Payment:
- Down Payment:
- USDA Loan Amount:
- USDA Guarantee Fee:
Monthly Mortgage Payment
Loan Amount
Your Debt to Income Ratio
/
Allowable Debt to Income Ratio29%/41%
Purchase Price $350000
Down Payment $0
Summary: Based on what you input into today your Total Payment would be $2850 on a USDA Loan with a Down Payment of 15%. Your Debt-to-Income Ratio is 32%/45% and the maximum allowable on this program type is 29%/41%. Please confirm all these numbers for accuracy with your loan officer. The Monthly Debts Calculation is often where we see errors.
Payment Breakdown
$2,425.35
per month
- Principal & Interest
- Taxes
- Insurance
- HOA Dues
- PMI
Loan Details
- Home Value:
- Mortgage Amount:
- Monthly Conventional Payment:
- Down Payment:
- Monthly Estimated PMI:
Monthly Mortgage Payment
Loan Amount
Your Debt to Income Ratio
/
Allowable Debt to Income Ratio50%/50%
Purchase Price $350000
Down Payment $0
Summary: Based on what you input into today your Total Payment would be $2850 on a Jumbo Loan with a Down Payment of 15%. Your Debt-to-Income Ratio is 32%/45% and the maximum allowable on this program type is 50%/50%. Please confirm all these numbers for accuracy with your loan officer. The Monthly Debts Calculation is often where we see errors.
All Payment $943,124.92 Total Loan Amount $280,000.00 Total Interest Paid $390,624.92
Payment Breakdown
Payment Breakdown
A breakdown of your total payment so you can see where money is allocated.
$2,425.35
per month
- Principal & Interest ($1,862.85)
- Taxes ($437.50)
- Insurance ($125.00)
- HOA Dues ($0.00)
- PMI (PMI not required)
- Extra Payment ($0.00)
- Monthly Payment
- Total Payment
- Home Value: $350,000.00
- Mortgage Amount: $280,000.00
- Monthly Principal & Interest: $1,862.85
- Monthly Extra Payment: $0.00
- Monthly Property Tax: $437.50
- Monthly Home Insurance: $125.00
- Monthly PMI:(PMI not required)
- Monthly HOA Fees: $0.00
- Total # Of Payments: 360
- Down Payment: $70,000.00
- Principal: $280,000.00
- Total Extra Payment: $0.00
- Total Interest Paid: $390,624.92
- Total Tax, Insurance, PMI and Fees: $202,500.00
- Total of all Payments: $943,124.92
Savings $0 Payment Amount $2,425.35 Shorten Loan Term By -
Early Payoff Strategy
Early Payoff Strategy
Add an extra payment and see how many months you can eliminate on the back end of the loan.
Lump Sum Payment
Lump Sum Payment
Shorten your loan term by paying a lump sum all to principal.
Monthly Payment Decrease
$
Total Interest Difference$
Monthly Payment Comparison
Payment Breakdown
A breakdown of your total payment so you can see where money is allocated.
Current Loan
$New Loan
$Monthly Payment Difference
$ Refinance Costs
$
Time to Recoup FeesTotal Interest Comparison
Payment Breakdown
A breakdown of your total payment so you can see where money is allocated.
Current Loan Remaining Interest
$New Loan Interest
$Total Interest Difference
$
1
Years 1 years
Results Summary
| Buying | Renting | |
|---|---|---|
| Cash Spent | $ | $ |
| Home value | -$ | -- |
| Balance on Loan | $ | -- |
| Closing costs on sale | $ | -- |
| Adjusted Net Cash Savings | $ | $ |
Rent
$Buy
$556 YEAR
2
BUY GAIN$43,244
BUY
$43,244
RENT$43,244
Out of Pocket Cost:If you opt for homeownership of a property valued at $, your total expenses out of your pocket for 2 years would add up to $. However, if you choose to rent instead, your overall expenditure would come to $, thus saving you $ (which also covers the down payment you would have otherwise made).
Financial Gain:After 2 years, if you choose to purchase the property, the value of equity in your home would be $, which you can access upon selling it.
Summary:Based on the overall expenses incurred and the equity gained, it would be more advantageous for you to buy the property instead of renting, provided you intend to reside in the house for more than 2 years.
All Payment Total Loan Amount Total Interest Paid
Payment Breakdown
Payment Breakdown
A breakdown of your total payment so you can see where money is allocated.
$2,425.35
per month
- Principal & Interest
- Taxes
- Insurance
- HOA Dues
- Extra Payment
- Monthly Payment
- Total Payment
- Home Value:
- Mortgage Amount:
- Monthly Principal & Interest:
- Monthly Extra Payment:
- Monthly Property Tax:
- Monthly Home Insurance:
- Monthly HOA Fees:
- Total # Of Payments:
- Down Payment:
- Principal:
- Total Extra Payment:
- Total Interest Paid:
- Total Tax, Insurance and Fees:
- Total of all Payments:
Savings $0 Payment Amount Shorten Loan Term By -
Early Payoff Strategy
Early Payoff Strategy
Add an extra payment and see how many months you can eliminate on the back end of the loan.
Lump Sum Payment
Lump Sum Payment
Shorten your loan term by paying a lump sum all to principal.
Monthly Payment Decrease
$
Total Interest Difference$
Monthly Payment Comparison
Monthly Payment Comparison
A breakdown of your total payment so you can see where money is allocated.
Current Loan
$New Loan
$Monthly Payment Difference
$ Refinance Costs
$
Time to Recoup FeesTotal Interest Comparison
Total Interest Comparison
A breakdown of your total payment so you can see where money is allocated.
Current Loan Remaining Interest
$New Loan Interest
$Total Interest Difference
$ Cash Flow
$
Cap Rate%
Deal Breakdown
Deal Breakdown
A breakdown of your rental loan deal.
- Loan Amount:
- Down Payment:
- Mortgage Payment:
- Monthly Payment:
- Origination Fee Amount:
Deal Metrics
Deal Metrics
A metrics of your rental loan deal.
- Total Closing Costs:
- Cash Needed to Close:
- Price Per Unit:
- Gross Rental Income:
- Operating Expenses:
- Net Operating Income:
Cash on Cash Return
%
DSCRReturn Metrics
Deal Metrics
A metrics of your rental loan return.
-
Cash Flow:Annual cash flow after all expenses and mortgage are paid.
-
Cap Rate:Cap rate, or capitalization rate, is a metric that divides your net operating income (not including your mortgage) by the purchase price or property value. It is most useful in comparing multifamily properties.
-
Cash on Cash Return:Cash on cash return is a metric that divides your pre-tax cash flow by the total cash invested in the deal. This is a key metric for most investors.
-
DSCR:DSCR calculates the ratio of rental income to your mortgage payment. Ideally, you'll have a DSCR of 1.0 or higher.
Borrower Equity Needed
$
Net Profit$
Deal Breakdown
Deal Breakdown
A breakdown of your rental loan deal.
- Loan Amount:
- Down Payment:
- Monthly Interest Payment:
- Total Interest Over Term:
- Origination Fee Amount:
- Other Closing Costs Amount:
- Cost To Sell Amount:
Deal Metrics
Deal Metrics
A metrics of your rental loan deal.
- Closing Costs:
- Carrying Costs:
- Borrower Equity Needed:
- Total Cash In Deal:
Return on Investment
%
Loan to After Repaired Value%
Return Metrics
Deal Metrics
A metrics of your rental loan return.
- Net Profit:
- Loan to After Repaired Value:
- ROI:
