Mortgage Calculator — Lesser Lending Group
Mortgage Calculator
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Payment
Side-by-Side
Refi Break-Even
Loan Program
Conv
FHA
VA
USDA
Fixed Rate
5/1 ARM
7/1 ARM
10/1 ARM
FHA:
3.5% min down (credit ≥580) · Upfront MIP 1.75% financed · Annual MIP ~0.55%/yr · MIP life of loan if <10% down.
VA:
No down payment · No monthly MI · Funding fee financed (2.15% first use, 3.3% subsequent · Exempt if service-connected).
USDA:
No down payment · 1.0% upfront guarantee fee · 0.35% annual fee monthly · Geographic and income eligibility apply.
Loan Term
10 yr
15 yr
20 yr
30 yr
Loan Details
Home Price
$
$50K
$2M
Down Payment
20.0% · $80,000
$
%
0%
50%
VA Usage
First Use
Subsequent Use
Exempt (Service-Connected)
Interest Rate
%
2%
14%
Credit Score
(affects PMI)
760+ (Excellent)
740–759 (Very Good)
720–739 (Good)
700–719 (Fair)
680–699 (Below Avg)
620–679 (Poor)
Monthly Costs
Annual Property Tax
$
↺
Annual Home Insurance
$
↺
HOA (monthly)
$
Cash to Close
Closing Costs
(2.5% est.)
—
2.5%
Seller Concessions
$
Prepaid Days (interest)
days
Est. Monthly Payment
$0
—
Est. Monthly Payment
$0
—
Principal & Interest
$0
Property Tax
$0
Home Insurance
$0
MI / MIP
$0
HOA
$0
Payment Breakdown
▼
P&I
$0
Principal & Int.
$0
Property Tax
$0
Insurance
$0
MI/MIP
$0
HOA
$0
⚠ ARM Worst-Case Payment
Initial Payment
—
Rate at First Adjustment
—
Adjusted Payment
—
Lifetime Cap Rate
—
Maximum Possible Payment
—
Life of Loan
▼
Principal
—
Total Interest
—
Total Cost
—
Cash to Close
▼
Down Payment
—
Closing Costs
—
Upfront Fee (financed)
—
Prepaid Interest (
15
days)
—
Escrow Setup (~2 mo)
—
Seller Concessions
—
Estimated Total
$0
Enter two scenarios to compare. The better value for each metric is highlighted.
Scenario A
Price
Down %
Rate %
Term
30 yr
20 yr
15 yr
10 yr
Type
Conv
FHA
VA
USDA
Tax %
Ins %
Scenario B
Price
Down %
Rate %
Term
30 yr
20 yr
15 yr
10 yr
Type
Conv
FHA
VA
USDA
Tax %
Ins %
Scenario A
Price
Down %
Rate %
Term
30 Year
20 Year
15 Year
10 Year
Loan Type
Conventional
FHA
VA
USDA
Tax % / yr
Insurance % / yr
Scenario B
Price
Down %
Rate %
Term
30 Year
20 Year
15 Year
10 Year
Loan Type
Conventional
FHA
VA
USDA
Tax % / yr
Insurance % / yr
Results
Metric
A
B
Loan Amount
—
—
P&I Payment
—
—
MI / MIP
—
—
Monthly Total
—
—
Total Interest
—
—
Total Cost
—
—
LTV
—
—
MI Drops Off
—
—
Metric
A
B
Loan Amt
—
—
P&I
—
—
MI
—
—
Monthly
—
—
Interest
—
—
Total Cost
—
—
LTV
—
—
MI Off
—
—
Enter your current loan and proposed new loan to find break-even and savings.
Current Loan
Remaining Balance
$
Current Rate
%
Remaining Term
yrs
Current MI/MIP (monthly)
$
New Loan
New Rate
%
New Term
15 yr
20 yr
30 yr
Closing Costs
$
New MI (monthly, if any)
$
—
Months to Break Even
Enter loan details above
Current Payment
—
New Payment
—
Monthly Savings
—
Rate Reduction
—
Cumulative Savings Timeline
Month 0
Break-even
Year 10
2 Years
—
5 Years
—
10 Years
—
Monthly Payment
$0
P&I
$0
Tax
$0
Ins
$0
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