Compare up to three loan scenarios side by side
The contract purchase price — not the assessed or appraised value.
Below 20% adds PMI (~$85/mo per $100k). 3.5% minimum for FHA; 0% for qualifying VA loans.
Get quotes from 3+ lenders. Even 0.25% less saves $10,000+ on a $400k loan.
Annual property tax ÷ home value. Find exact rates at your county assessor's website.
Annual homeowner's insurance premium. Shop around — rates vary significantly by insurer.
Monthly HOA or condo fee. Lenders include this in your back-end DTI calculation.
The contract purchase price — not the assessed or appraised value.
Below 20% adds PMI (~$85/mo per $100k). 3.5% minimum for FHA; 0% for qualifying VA loans.
Get quotes from 3+ lenders. Even 0.25% less saves $10,000+ on a $400k loan.
Annual property tax ÷ home value. Find exact rates at your county assessor's website.
Annual homeowner's insurance premium. Shop around — rates vary significantly by insurer.
Monthly HOA or condo fee. Lenders include this in your back-end DTI calculation.
| Metric | Loan A | Loan B |
|---|---|---|
| Down Payment | $40,000 | $80,000 |
| Loan Amount | $360,000 | $320,000 |
| PMI | $255/mo | — |
| PMI Drops Off (mo) | Month 98 | — |
| Total Monthly (PITI) | $3,082 | $2,514 |
| → Principal & Interest | $2,335 | $2,023 |
| → Tax + Insurance | $492 | $492 |
| Total Interest Paid | $480,583 | $408,142 |
| Total Cost (all-in) | $1,149,383 | $985,142 |
Each panel calculates your total monthly cost: principal and interest (P&I), property tax, homeowner's insurance, and PMI if your down payment is below 20%. The comparison table shows which loan has the lowest monthly payment and which costs the least over its full term. PMI is automatically included when applicable and drops off when your balance reaches 80% of the purchase price.
It depends on your goal. Lowest monthly payment → 30-year. Least total interest → 15-year. Fastest equity growth → shorter term or larger down payment.
PMI (Private Mortgage Insurance) protects the lender, not you, and costs roughly 0.5–1% of the loan per year. Federal law requires lenders to automatically cancel it when your balance drops to 80% of the original purchase price.
One point costs 1% of the loan and typically buys your rate down by 0.25%. Break-even is usually 5–7 years. If you plan to stay longer, buying points saves money. If you might sell or refinance within 5 years, skip them.