Mortgage Calculator
Estimate a full monthly payment: principal, interest, taxes, insurance and HOA. No sign-up and no credit pull.
Monthly Payment
Drag or type. Figures update as you go.
Calculator results are estimates only and do not constitute a loan offer or quote.² Your actual payment depends on the program, your credit profile, the property and current rates.
2-1 buydown calculator
Temporary buydown
Pick a buydown and type your numbers. Figures update as you go.
A temporary buydown lowers the payment for the first one to three years while the loan stays at the note rate for its full term. The difference is paid up front, usually by the seller or the builder as a closing credit, and it counts toward the seller-contribution limit on your loan program. Principal and interest only; taxes, insurance, mortgage insurance and HOA dues are not included. Calculator results are estimates only and do not constitute a loan offer or quote.²
Once the payment looks right, how to get the lowest mortgage rate covers what moves the rate the calculator is using.
Want a Copy of the Results?
Send yourself the numbers, or have a licensed officer walk through them with you and confirm what you would actually qualify for.
What the number does not tell you
The rate you are quoted
The calculator uses whatever rate you type. Your real rate depends on credit, the program, the property and the day. A licensed officer will quote you a real one.
Which program fits
A VA or USDA loan can drop the down payment to zero; FHA opens the door at a lower score. The monthly figure changes a lot depending on which one you qualify for.
What you can actually borrow
A pre-approval is the only number a seller will act on, and it usually takes about 24 hours. It is also free, and it does not commit you to anything.
Legal information
¹ No-Down Payment Disclaimer: Closing costs and fees may still apply.
² Representative example (conventional, fixed rate): Purchase price $300,000 with a 5% down payment of $15,000 and a loan amount of $285,000. 30-year fixed rate at 6.000% (6.390% APR). 360 monthly principal-and-interest payments of $1,708.72, plus estimated private mortgage insurance of $95.00 per month until the loan balance reaches 78% of the original value (approximately 129 months). APR reflects $1,995 in lender fees, 15 days of prepaid interest, and mortgage insurance. Payment does not include property taxes, homeowners insurance, or HOA dues; your actual payment will be higher. The interest rate is fixed and will not increase. Example dated September 12, 2026, for illustration only. Rates change daily. This is not an offer, quote, or commitment to lend. All loans are subject to credit approval, property appraisal, and program eligibility. Your rate, APR, and payment will depend on your credit, down payment, property, and loan program.
³ Refinancing Disclaimer: When refinancing your mortgage, you can typically reduce your monthly payment amount. However, your total finance charges may be greater over the life of your loan. Your 1st Advantage Mortgage loan professional will provide you with a comprehensive refinance comparison analysis to determine your total life loan savings.
⁴ VA Mortgage Disclaimer: VA home loan purchases offer options for a 0% down payment, no private mortgage insurance requirements, and competitive interest rates with specific qualification requirements. VA Interest Rate Reduction Loans (IRRRL) are exclusively for veterans with current VA loans. Current loan rate restrictions apply, and limits to recoupment of costs and fees apply. VA cash-out refinances are available for veterans with or without current VA loans. Policies and guidelines may vary and are subject to individual borrower(s) qualifications. Program and lender overlays apply.
⁵ Down Payment Assistance Disclaimer: First-lien interest rates may be higher when using a DPA.
⁶ Pre-Approval Disclaimer: Pre-approvals are granted to clients who meet qualifying approval criteria and specific loan requirements at the time of application. Results may vary.
General Disclaimer: The content on this page has not been approved, reviewed, sponsored, or endorsed by any department or government agency.
Frequently asked questions
What does this calculator include?
Principal and interest, plus monthly property taxes, homeowner’s insurance and HOA dues if you enter them. That gives a fuller monthly figure than a principal-and-interest-only calculator.
Does using this affect my credit score?
No. There is no credit pull and no sign-up. It is an estimate you run yourself.
Is the result a loan offer?
No. Calculator results are estimates only and do not constitute a loan offer or quote.³ Your actual payment depends on the program, your credit profile, the property and current rates.
Why might my real payment differ?
Rates move, taxes and insurance vary by address, and some programs carry mortgage insurance that is not included here. A licensed officer can give you a figure based on your actual file.
Can I afford a $300,000 house on a $70,000 salary?
Whether you can afford a $300,000 house on a $70,000 salary depends on your debts, debt-to-income ratio (DTI), down payment, credit, home price, and loan-program guidelines, so salary alone does not answer it.
How much house can I afford on a $100,000 salary?
The home price you can afford on a $100,000 salary depends on your debts, DTI, down payment, credit, property costs, and loan-program guidelines rather than salary alone.
What is a 2-1 buydown?
A 2-1 buydown is a temporary rate reduction that lowers your interest rate by two percentage points in the first year and one point in the second, after which the loan runs at the note rate for the rest of its term. The money that covers the lower payments is paid up front at closing and held in escrow, so the lender still receives the full payment every month.
Who pays for a temporary buydown?
The seller or the builder usually pays for it as a closing credit, and that credit counts toward the seller-contribution limit on your loan program. A lender or an agent can fund one in some cases, the rules differ by program, and we check what your file allows before it goes into the contract.
Do I qualify at the lower first-year rate?
No. You qualify at the note rate and the full payment, not at the reduced first-year payment. Underwriting reviews the loan as though the buydown were not there, which is why the calculator shows the full payment next to the buydown years.