How Much of a Down Payment Do I Need Mortgage Calculator

Find answers to your financial questions. Now you can make smart decisions about purchasing, refinancing and debt consolidation.

How Much of a Down Payment Do I Need?
Use the following calculator to determine the maximum monthly (P+I) and the maximum loan amount for which you may qualify. The figures in this calculator are based on programs that require full documentation of income. These programs may require verification of W-2's, 1099's, and/or paystubs. If you cannot prove your income we have many programs that do not require any income documentation.

Loan Information

Sale Price of Home

Down Payment %

Estimated Interest Rate

Discount Points Paid at Closing

Mortgage Term

Monthly Housing Expense

Estimated Annual Property Taxes

Estimated Annual
Homeowners Insurance

Mortgage Results

Mortgage Amount

Down Payment Amount

Discount Points

Closing Costs

Prepaids

Total Cash

Mortgage Payments

Monthly Principal &
Interest Payment

Estimated Monthly
Property Tax Payment

Estimated Monthly
Insurance Payment

Totals

Estimated Monthly Payment

Estimated APR

Disclaimer: The calculated results shown above are based on conventional loan program guidelines. Other loan programs are available and may provide results that better fit your individual needs. Calculations completed within this tool are estimates and are not guaranteed to be accurate.

European Concerns Increase

Increased concerns about Europe helped mortgage rates improve this week, although the impact of the recently passed extension to the payroll tax reduction is beginning to push up mortgage rates for certain loans (discussed below).

The news from Europe was mostly negative this week. Economic growth in Germany was slower than expected. Negotiations on restructuring Greek debt did not progress as planned, increasing the risk of default. S&P is downgrading the debt of several European countries, including France. Finally, the European Central Bank (ECB) provided no relief, as it gave no indication that it would increase the level of aid available to troubled countries. As a result, investors shifted funds to relatively safer investments, including US mortgage-backed securities (MBS), which helped mortgage rates move lower.

The recently passed extension to the temporary payroll tax reduction contained a lightly publicized revenue raising provision to increase the guarantee fees charged on Fannie Mae and Freddie Mac loans. This fee results in higher rates for borrowers, and mortgage rates for loans not expected to close within the next month or so have begun to reflect this coming increase in guarantee fees.


	800.865.6266

Call 800.865.6266 for current interest rates. Each rate quote we provide is custom & we offer the most competitive products and programs available in the market place when considering your specific situation.

Rates are subject to change.