Explore payments, affordability, refinancing, rent vs. own, and investor metrics using your own scenario. These tools are for education only—your exact options come after a full review.
Estimate your full housing payment, including principal & interest, taxes, insurance, HOA, and program fees.
Based on your home price, down payment, and any financed FHA, VA, or USDA program fees.
Shown for FHA, VA, and USDA based on sample program rules.
Shown for FHA and USDA; VA loans do not have monthly MI.
With less than 20% down, conventional loans may require PMI. We estimate PMI using your loan details, or you can enter your own MI amount below. PMI cancellation is subject to applicable equity, payment-history, investor, and servicing requirements.
Only use this if you already have a lender-issued MI quote. Leaving it blank lets the calculator estimate PMI automatically.
Estimate a rough price range using income, debts, target DTI, rate, and down payment.
Many Conventional buyers fall in the 40–45% total DTI range.
This affordability estimate assumes your T&I/HOA figure includes any program-specific mortgage insurance or fees. Use the Monthly Payment tab if you want to see those broken out for Conventional, FHA, VA, or USDA.
Compare your current loan to a new scenario, including estimated monthly savings, breakeven, and total interest.
Compare a renting scenario to owning a home over time, including equity build and net monthly impact.
Explore a 1-0, 2-1, or 3-2-1 buydown structure—short-term payment relief funded by a buydown deposit.
Buydown costs are based on the loan amount (after down payment), not the purchase price.
Enter a planned seller or lender credit to compare against the total buydown fund required.
Model a basic rental scenario with income, expenses, and financing to see estimated monthly cash flow.
Estimate rental-income coverage of an amortizing housing payment, then review operating cash flow separately. Qualification coverage does not measure investment profitability.
75% LTV means 25% down. Adjust LTV to explore a different down payment; for example, 85% LTV means 15% down. Available financing varies by lender and scenario.
Estimated qualifying DSCR uses gross monthly rent divided by the monthly housing payment. Vacancy and operating expenses affect cash flow only. Qualifying rent is an estimate; the lender determines acceptable lease and appraisal-supported income.
Enter rental revenue before the operating expenses below, excluding lodging taxes and refundable deposits. Do not deduct fees twice: if your revenue is already net of a fee, add that fee back to revenue before entering the matching expense. If guest-paid cleaning revenue is included, include its corresponding expense consistently.
Illustrative expenses only. Replace these figures with your property’s expected costs. Include cleaning expense consistently with any cleaning revenue entered, and do not deduct fees already excluded from entered revenue twice.
* Qualification explanation: Short-term rental revenue can vary with occupancy, seasonality, and booking demand. A lender may count only a portion of that revenue to allow for uncertainty when evaluating whether the income supports the housing payment.
Qualifying income factor: 80%. This percentage is an illustrative adjustment rather than an assumption that all rental revenue will be accepted for qualification. The default is 80%; you can adjust it above. Use the percentage your lender confirms for your scenario.
This illustration does not establish eligibility or constitute loan approval. Your lender may count a different percentage, use a different calculation, or require different income documentation. Changing this percentage does not replace acceptable documentation. It affects estimated qualifying income and qualifying DSCR only; operating cash flow uses the full modeled rental revenue minus the expenses and housing payment entered.
Prefilled property, financing, and long-term rental figures are illustrations. Replace them with your own numbers and enter an interest rate before calculating. Enter every displayed numeric field, using 0 where a cost does not apply. Estimates use level amortizing principal and interest; interest-only qualification is not modeled.
Mortgage rates aren't one-size-fits-all. The rate available for a specific loan can vary based on factors such as loan program, credit profile, down payment or equity, loan amount, property type, occupancy, points or lender credits, and other loan characteristics.
The Optimal Blue Mortgage Market Indices™ below provide a snapshot of mortgage rate activity based on actual rate locks across approximately 35% of U.S. mortgage transactions.
These are not your mortgage rates. They are national market averages based on actual mortgage rate locks processed through Optimal Blue, provided to give you context for the broader mortgage market.
About these rates: The Optimal Blue Mortgage Market Indices™ (OBMMI™) reflect market data from actual mortgage rate locks and are provided for informational purposes only. They are not an interest rate or APR offered by Chris Milker or Success Mortgage Partners. Your actual rate, APR, costs, and loan terms will depend on your individual loan scenario and market conditions. All loans subject to approval. Learn about the OBMMI™ methodology.
No. These tools are educational only. They estimate payments and ratios based on the information you enter, but they don’t replace a full application, credit pull, or automated underwriting. Qualification depends on your full profile, property, and current program guidelines.
Lenders use live rate sheets, detailed MI tables, and exact property taxes, insurance, and HOA figures. This calculator uses reasonable estimates. Differences in rate, MI factors, tax assessments, and HOA dues will all move the final payment.
For Conventional loans, we estimate MI using credit score ranges and down payment tiers. FHA, VA, and USDA each have their own upfront and/or monthly insurance structures. The calculators include these as separate line items where applicable so you can see how they affect the total payment.
Possibly. For many conventional loans, you can request PMI cancellation when the loan reaches applicable loan-to-value requirements, subject to payment history, investor, property-value, and servicing requirements. PMI generally terminates automatically once the loan is scheduled to reach 78% of the property's original value, provided applicable requirements are met and the loan is current.
You may also be able to request PMI cancellation based on your home's current value if the property has appreciated or you've made substantial improvements. Depending on your loan and investor, your servicer may require an approved property valuation, such as a broker price opinion (BPO) or appraisal.
If you think you may be eligible, contact your mortgage servicer first to ask about its PMI cancellation requirements and valuation process.
FHA charges two types of mortgage insurance on most loans:
1. Upfront MIP (UFMIP). For 2026, this is typically 1.75% of the base loan amount. It can be paid in cash at closing or rolled into the loan balance. For example, on a $200,000 base loan, UFMIP is $3,500.
2. Annual MIP. The annual MIP percentage depends on your loan term, loan amount, and LTV. For most loans with less than 10% down and terms over 15 years, the annual MIP is around 0.55%. Smaller loan amounts, shorter terms, and lower LTVs can qualify for lower MIP factors.
How long do you pay MIP? With a down payment under 10%, FHA MIP usually runs for the life of the loan. With 10% or more down, MIP is often required for 11 years. The exact structure for your loan will be confirmed when we run your full FHA scenario and review FHA’s current MIP charts.
Yes. The buydown tool estimates first-year (and later-year) payment relief based on a 1-0, 2-1, or 3-2-1 structure, and the refinance tool compares your current loan to a new one. Both are designed to help you frame the conversation before we run a full scenario.
DSCR stands for Debt Service Coverage Ratio. This calculator's estimated qualifying DSCR divides modeled qualifying monthly rental income by the monthly amortizing housing payment: principal and interest plus taxes, insurance, and HOA. Long-term mode uses gross monthly rent; short-term mode uses average monthly revenue multiplied by your illustrative qualifying-income percentage. Your lender determines acceptable lease, appraisal, historical revenue, or projection documentation and the amount of income it can count.
Operating cash flow is separate: effective rental revenue minus actual modeled operating expenses and the full housing payment. Long-term vacancy reduces cash flow, while short-term occupancy is applied only when estimating revenue from nightly rates. Entered annual revenue is not multiplied by occupancy again. Changing operating expenses does not change this illustrative qualifying DSCR, and changing the short-term qualifying percentage does not change operating cash flow.
NOI deducts operating expenses, taxes, insurance, and HOA but excludes principal and interest. Cap rate uses annual NOI divided by purchase price. Estimated annual cash-on-cash uses annual cash flow divided by modeled cash invested: down payment plus entered origination and other closing costs. Furnishing, startup work, and reserves are excluded unless reflected in the costs you enter.
Educational estimates only. Qualifying rental income, payment calculations, documentation, and minimum DSCR vary by lender and program. Short-term rental eligibility also depends on applicable local rules and property restrictions. Results are not loan approval.
Yes, wherever they’re part of the payment (owner-occupied and investor scenarios), you’ll see separate inputs and line items for taxes, insurance, and HOA dues. If you’re not sure what to use, we can help you estimate local numbers for your specific property type and price point.
The math works anywhere, but taxes, insurance, HOA dues, and local program options vary by state and county. Use these tools as a baseline, then we’ll dial in local numbers and program rules once we know where you’re buying.
Once you’ve played with a few scenarios, the best next step is a full pre-approval. That lets us verify income, assets, and credit; choose the right program; and put real numbers behind your purchase or refinance plan.
These tools are for educational purposes only and are not a commitment to lend or an offer of credit. Actual rates, payments, mortgage insurance, and costs will vary based on your full credit profile, property, program, and current guidelines (including FHA, VA, USDA, and Conventional rules). All loans subject to approval. Equal Housing Lender.