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Rates & well-qualified borrower assumptions
Starting rates are third-party market benchmarks, not IMS Lending rate offers or guaranteed rates. MND’s top-tier baseline generally uses approximately 780 credit and 75% loan-to-value; the index adjusts for points and is not a zero-point rate quote. Your selected down payment may differ from that baseline. Actual pricing depends on credit, loan size, property, occupancy, down payment, points, fees, lock period, and lender guidelines. Rates can change without notice.
Conventional 15-year and 30-year, and FHA, VA and jumbo 30-year benchmarks are used where available. USDA uses the conventional 30-year benchmark as a clearly labeled placeholder. FHA and jumbo 15-year examples use the conventional 15-year benchmark as a placeholder. No program-specific pricing is inferred from those placeholders. You can enter any rate to compare scenarios.
The interest input is used only for an educational payment calculation. It is not an APR. This tool does not calculate APR, provide a Loan Estimate, or include discount points and all finance charges. Ask for an individualized quote showing the interest rate, APR and costs. Rate-index methodology.
Mortgage insurance & program fees
Conventional loans with less than 20% down generally require private mortgage insurance (PMI). The calculator uses an editable annual estimate and sets PMI to zero at 20% down. It does not model PMI cancellation or alternative lender-paid insurance structures. FHA uses HUD’s published annual MIP tiers and 1.75% upfront MIP; the initial monthly amount is approximate. VA has no monthly MI but may have a funding fee. USDA Guaranteed loans include upfront and annual guarantee fees. Upfront fees are financed by default; uncheck the option to model paying them at closing. Jumbo insurance is lender-dependent.
Conventional PMI · FHA MIP · VA funding fees · USDA Guaranteed loans. Program rules checked October 27, 2026.
Taxes, homeowners insurance & limitations
Property taxes start at 1.25% and homeowners insurance at 0.35% of the sales price per year. These are adjustable budgeting assumptions. They are not a property tax assessment or insurance quote. California supplemental taxes, special assessments, flood or earthquake coverage, and other property-specific costs may add to your expense. Obtain an actual insurance quote; wildfire risk can materially affect availability and premiums.
This calculator estimates a fully amortizing fixed-rate purchase loan. It does not assess county loan limits, income limits, credit, appraised value, entitlement, or program eligibility. It excludes closing costs, prepaid items and other charges beyond the program fees shown. Mortgage insurance and guarantee fees can change over time, so this is an initial payment estimate. All loans are subject to underwriting approval.