Mortgage Calculators

Note: The boxes above estimate the maximum home price you can afford based on the information you provided. The maximum loan amount is calculated based on your proposed down payment. The mortgage payment does not include property taxes, insurance, or mortgage insurance if required, but the calculator did account for these when determining the maximum home price. The total payment includes taxes, insurance, and mortgage insurance, if applicable.

Many factors affect the amount of home you can afford, including your credit history, loan program, debts, assets, income stability, and overall financial situation. Please give us a call if you would like us to perform a more detailed analysis.

Because the ratio of your loan amount to the value of your home is greater than 80%, you may be required to pay mortgage insurance as part of your loan payment.

Your new payment is higher than your existing payment. This may be due to several factors, such as the term remaining on the existing mortgage. Please give us a call if you would like us to perform a more detailed analysis.

Based on the information you provided, refinancing will save you money. The Breakeven analysis shows the number of months of lower payments it will take to recover the estimated closing costs associated with the new mortgage.

The calculator assumes you will absorb the closing costs into the new mortgage, so your payment savings would start immediately. However, you are still paying those closing costs, even if they are included in the mortgage. The lower the breakeven period, the stronger the potential refinance advantage.

If you did not absorb the closing costs into the new mortgage, your new payment would be $.

Because the ratio of your loan amount to the value of your home is greater than 80%, you may be required to pay mortgage insurance as part of your loan payment.

Based on the information you provided, renting appears to be the better financial option over the time period you entered. Despite the benefits of buying, including potential equity growth and possible tax benefits, you may not recoup the housing and mortgage costs within your expected timeline.

You will save an estimated $ by renting instead of buying during the years you plan to rent.

You may want to try different values, such as a lower purchase price, higher down payment, different rent amount, or longer time before moving. Please give us a call if you would like us to perform a more detailed analysis.

Based on the information you provided, buying appears to be worth considering compared with renting. The Breakeven analysis shows the number of months after which buying is estimated to save money.

You will save an estimated $ by buying instead of renting over the years you plan to live in your home.

The calculator used mortgage closing costs of $, home maintenance costs of $ per year, and home selling costs when you move of % of the sales price. It adjusted maintenance costs and insurance for inflation, and it adjusted home value and property taxes based on the home appreciation rate.

Please give us a call if you would like us to perform a more detailed analysis.

Because the ratio of your loan amount to the value of your home is greater than 80%, you may be required to pay mortgage insurance as part of your loan payment.

Payments saved shows the number of fewer payments it will take to pay off your mortgage if you make the extra payments entered above. Interest saved is the amount you would save over the life of the loan by making those extra payments.

The Balance remaining and Finance charges paid correspond to your Time horizon. The amounts for the 2nd Mortgage option include the balance and finance charges associated with the current mortgage because it remains in place. The finance charges paid include the estimated closing costs.

Please note that if you currently are paying mortgage insurance, refinancing your current mortgage is often the better option. Call us so we can prepare a detailed analysis.

The graphs compare the options for the entire loan term, not just at your time horizon.

If you want to keep the new payment the same as your current payment, you would not be able to take any cash out using a new -year 1st mortgage.

You can take the max cash out, and your payment for a new -year 1st mortgage will be less than your current payment.

If you want to keep the new payment the same as your current payment, you can take $ using a new -year 1st mortgage.

We're sorry, but the calculator is unable to compare adjustable-rate mortgages. For a home equity line of credit, which is a second mortgage, it assumes you draw all of the funds at closing.

Current payments is the sum of your existing mortgage payment and the payments for the debts you want to pay off. Monthly savings is the difference between what you are paying now and the estimated new mortgage payment.

The New mortgage includes your existing mortgage balance and the sum of the debts you want to pay off. It does not include the closing costs associated with the new mortgage, which we estimate to be $. It may be possible to include the closing costs in the new mortgage.

In addition to the monthly savings, we estimate you will save $ in interest payments by consolidating this debt.

We estimate you will pay $ in additional interest by consolidating this debt because you are amortizing the debt payments over a longer loan term.

Net rental income estimates the monthly rental income remaining after vacancy, maintenance, property management, property taxes, insurance, HOA dues, and other monthly expenses, but before loan costs.

Net cash flow estimates the monthly amount remaining after subtracting the principal and interest payment from net rental income. It does not account for income taxes, depreciation, future rent changes, future expense changes, major capital repairs, or changes in property value.

DSCR is only an estimate based on the information entered here. Once all loan terms and property data are available, we will calculate a more precise debt service coverage ratio.

Cash-on-cash return compares estimated annual cash flow with the estimated cash invested, including down payment and closing costs. Cap rate compares annual net operating income with the purchase price, before loan costs.

This calculator is for planning and education only. Actual investment performance depends on the final loan terms, property condition, lease terms, tenant performance, vacancy, maintenance, reserves, taxes, insurance, management costs, and other factors.