Mortgage Payment Calculator
Estimate your total monthly mortgage payment including principal, interest, property taxes, and homeowners insurance (PITI).
This is an estimate for informational purposes only and does not include PMI, HOA fees, or other costs. Rates, terms, and program availability are subject to change and depend on borrower qualifications including credit score, income, assets, and property type.
What is a Temporary Rate Buydown?
A temporary rate buydown is a financing arrangement — often funded by seller credits — that reduces your mortgage interest rate for the first years of the loan.
- 3-2-1 Buydown: Rate reduced by 3% in Year 1, 2% in Year 2, 1% in Year 3, then returns to the full note rate
- 2-1 Buydown: Rate reduced by 2% in Year 1, 1% in Year 2, then returns to the full note rate
- 1-1 Buydown: Rate reduced by 1% in Year 1 and Year 2, then returns to the full note rate
The difference between the reduced payment and the full payment is typically funded upfront through a seller concession or lender credit. This can provide meaningful payment relief in the early years of homeownership.
When it makes sense: If you expect your income to grow, or if you anticipate refinancing in the near future, a buydown can reduce your initial monthly obligation while you settle in.
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Estimate only. Actual buydown cost and eligibility depend on lender, loan program, and transaction terms.
Rent vs Buy Calculator
Compares the estimated total cost of renting vs. buying over a given time period. Factors in home appreciation, equity buildup, and rent increases.
This is a simplified comparison for illustrative purposes. It does not account for tax deductions, maintenance costs, selling costs, or investment returns on the down payment.
Simplified estimate for illustrative purposes only. Does not account for tax deductions, maintenance costs, selling costs, or investment returns on the down payment.
Debt-to-Income (DTI) Calculator
Your DTI ratio compares your total monthly debt obligations to your gross monthly income. Most conventional loan programs prefer a DTI below 45%, though requirements vary by loan type and lender.
- Front-end DTI: Housing costs only (principal, interest, taxes, insurance)
- Back-end DTI: All monthly debts including housing — this is the number most lenders focus on
- FHA loans may allow higher DTI ratios than conventional programs in some cases
DTI requirements vary by loan program and lender. This is an estimate for informational purposes only.