Conventional Loan Calculator

Your full payment with PMI, plus when PMI ends.

Home Loan Details

Home Purchase Price iThe purchase price of the home you are buying, before any down payment.

Fannie Mae and Freddie Mac cap how big a conforming loan can be, and the cap is set county by county. Pick your state to see its 2026 range, and look up your exact county at FHFA's site.

State iThe state where the home is located. It drives the conforming loan limit check below the loan readouts, and it estimates your state income tax in the leftover money view. Conforming limits are set county by county, so confirm yours at FHFA's lookup.

Down Payment iEnter your planned down payment. Minimums depend on the product, occupancy and borrower eligibility. Some programs allow a smaller down payment. This tool models monthly PMI when loan-to-value exceeds 80%.

Credit Score iThis score band is used only to estimate PMI; it does not set your interest rate or determine eligibility. Credit requirements vary by lender and underwriting method. Fannie Mae DU does not have a universal minimum credit score requirement.

Interest Rate iEnter an interest rate to test your scenario. Prefilled values are examples, not available rates or a quote. This is the note rate, not APR; APR includes certain loan costs and is not calculated here.

Compare market rates

Loan Term iThe repayment term in years. This model assumes a fixed interest rate and fully amortizing monthly payments. A shorter term generally increases principal-and-interest payments and reduces total interest.

Loan Amount iThe modeled purchase price less your entered down payment. Closing costs and prepaid expenses are separate; this is not cash to close.

$380,000

Loan-to-Value iLoan amount divided by purchase price in this model. A lender also considers appraised value. PMI pricing depends on more than this ratio and may differ from the estimate.

95.0%

Principal & Interest

$2,339.73/mo

Monthly Housing Costs

Property Taxes iUse a property-specific estimate from the taxing authority. Taxes, assessments and exemptions can change after purchase; a listing or prior tax bill may not reflect your future bill.

= $500/mo

Use a local tax estimate

State

County

Choose a county to fill the annual rate. You can still edit the tax amount.

Homeowner's Insurance iUse an insurance quote for this property. The default is an example. Include flood, windstorm or other required coverage under Other if not included here.

= $167/mo

HOA Dues iHomeowners association dues, if the property has an HOA. Some HOAs bill quarterly or annually, so tap /yr to enter the annual total instead. Leave it at 0 if there is none.

Other (flood insurance, etc.) iAny other monthly housing cost, such as flood insurance or a special assessment. Leave it at 0 if none apply.

Monthly PMI iA simplified borrower-paid monthly PMI estimate based on credit band and loan-to-value. Actual premiums depend on the insurer, loan and borrower. Other mortgage-insurance structures may be available.

$167.83/mo

Annual PMI Rate

0.53%

PMI Ends iThe displayed date estimates scheduled termination at 78% of original value for eligible borrower-paid PMI loans, assuming payments are current. Requested cancellation and cancellation based on a new value have additional conditions. Confirm requirements with your servicer.

About 11 yrs

Income iEnter income you want considered. The model makes simplified tax, rental-income and tax-free-income adjustments; these are not a lender’s determination of qualifying income. Social Security may be partly taxable. Alimony, child support and separate maintenance income need not be disclosed unless you want it considered.

Total Monthly Income

$11,000

Est. Income Taxes iA simplified federal, payroll and state tax estimate using built-in assumptions. Filing status, deductions, credits, local taxes and benefit taxation may differ. This is not your actual take-home pay or tax advice.

$2,543/mo

Effective Tax Rate

23.1%

Monthly Liabilities iEnter recurring monthly debts, including applicable student loan payments and support obligations. Required qualifying payments may differ from a credit report or the amount you currently pay. Do not enter the proposed home payment twice. Household living expenses still need a separate budget.

Total Monthly Debts

$500/mo

Estimated monthly payment

$3,299.51

Principal, interest, taxes, insurance, PMI, HOA, and other

An estimate to help you plan. Your final payment depends on the property and loan terms.

Illustrative estimates only. Prefilled rates are examples, not quotes. Results are not a loan approval or a complete cash-to-close estimate.

Front-End (Housing) Ratio iA modeled ratio based on housing costs, debts and income entered. The reference thresholds shown are planning assumptions, not an approval decision. Underwriting method, income eligibility and lender standards may change the result.

28.86%

28.9% used28% planning reference

Back-End (Total DTI) Ratio iA modeled ratio based on housing costs, debts and income entered. The reference thresholds shown are planning assumptions, not an approval decision. Underwriting method, income eligibility and lender standards may change the result.

33.41%

33.4% used36% reference / 50% model ceiling

Within modeled range

Within this model’s 36% DTI reference; not a loan approval.

Your lender also reviews:

Credit history
Automated underwriting findings
Lender overlays
Savings left after closing
Job history

See my cash to close →

Where Your Income Goes iAn illustration of income after the costs included in this model. It is not a full household budget, an actual tax calculation or an underwriting determination.

$4,782

left over/mo

Housing payment$3,175

Income taxes (est.)$2,543

Monthly debts$500

Left over$4,782

The math: gross income minus estimated taxes, the full house payment including PMI, and monthly debts. Allow separately for living expenses, savings and unexpected costs.

Take your numbers with you

Save your loan, payment and income snapshot.

Make sense of your next step.

Let’s review your scenario, compare loan options, and find a payment that fits your next move.

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Compare current market rates

National averages from Optimal Blue, not a personalized quote. Actual pricing depends on your credit, down payment, loan details and discount points. Check the date shown below. These averages do not change the rate entered in your calculator.

Source: Optimal Blue Mortgage Market Indices (OBMMI). Open market rates in a new tab.

Your results explained

Understand your numbers

What is mortgage insurance?

Private mortgage insurance protects the lender and may be required for a conventional loan with a smaller down payment. This calculator estimates borrower-paid monthly PMI. Actual pricing and available payment structures vary by insurer, lender and borrower.

What does the DTI result mean?

Debt-to-income ratio compares monthly housing costs and debts with qualifying gross income. The displayed thresholds are model reference points. Automated underwriting, loan program and lender requirements determine eligibility.

Ways to compare your options

Try different home prices, down payments and debt payments to see how your estimate changes. Keep enough savings for closing costs and emergencies. A loan officer can help assess income documentation and co-borrower options.

When can PMI end?

For eligible loans, you may request cancellation at 80% of original value, subject to conditions. Automatic termination generally occurs at scheduled 78% when the loan is current. Cancellation based on a new value has separate seasoning, equity and payment-history rules; appreciation alone does not guarantee removal. Ask your servicer for its requirements.

It models typical borrower-paid PMI pricing and conventional DTI guidelines, but PMI quotes vary by insurer and full credit profile, a lender verifies your complete file: income, assets, liabilities, credit, and payment history, and may apply its own overlays. Taxes and insurance figures are estimates that vary by property and location, and conforming loan limits vary by county. Confirm your numbers with a licensed loan officer before making decisions.