Estimate Your Monthly Payment
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Estimated Monthly Payment
Total Monthly
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Full housing cost (PITIA)
Principal & Interest
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Core loan payment
Tax + Insurance
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Escrow estimate
PMI / HOA
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Loan Amount
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Down Payment
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Estimates only. Actual payment confirmed in your Loan Estimate (LE). HOA dues are not typically escrowed. FHA MIP and flood insurance not included.
Estimate Your Cash to Close
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Estimated Cash Needed at Closing
Total Cash to Close
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After earnest money credit
Down Payment
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Closing Costs
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Prepaid Escrow Est.
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These are estimates. Your exact cash to close appears on the Closing Disclosure (CD) 3 days before closing. Wire funds only to verified accounts — confirm wiring instructions by phone with your escrow officer.
What Can You Afford?
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Affordability Estimate
Max Home Price
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Based on 43% back-end DTI
Est. Monthly Payment
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Front-End DTI
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Housing only (target ≤28%)
Back-End DTI
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All debts (target ≤43%)
DTI Health
DTI guidelines: Most conventional loans allow up to 43–45% back-end DTI. FHA may allow up to 50%. Your lender will run an official calculation on verified income.
FHA vs. Conventional — Side by Side
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FHA Loan
Down Payment—
Loan Amount (w/ UFMIP)—
Upfront MIP (1.75%)—
Monthly MIP—
P&I Payment—
Tax + Insurance—
Total Monthly
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Conventional
Down Payment—
Loan Amount—
Upfront PMI$0
Monthly PMI—
P&I Payment—
Tax + Insurance—
Total Monthly
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Key Difference
Monthly Difference
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5-Year Cost Gap
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Conv PMI Drops Off
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At ~20% equity
FHA MIP Duration
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If <10% down
FHA MIP vs. PMI: FHA MIP (mortgage insurance) typically lasts the life of the loan if you put less than 10% down. Conventional PMI cancels at 20% equity. FHA also charges an upfront MIP of 1.75% rolled into the loan. Talk to your lender about which fits your credit profile and long-term plans.
How Much Does Rate Change Your Payment?
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Rate Comparison — Principal & Interest Only
| Rate | P&I Payment | vs. Your Rate | 10-Year Cost |
|---|
P&I only — taxes, insurance, PMI/MIP, and HOA not included. A 0.25% rate difference can mean thousands over the life of the loan. Consider buying down your rate with points if you plan to stay 7+ years.
