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Use this calculator to make a side-by-side, net cost comparison of up to 8 different loan or scenario options.
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DOWN PAYMENT AND LOAN AMOUNTS
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Total Loan to Value Ratio Needed =
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Here, you can structure each option as a single or combined 1st and 2nd loan amounts to equal the loan to value ratio needed as indicated above:
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1st Mortgage Loan to Value
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2nd Mortgage Loan to Value
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Total Loan to Value or CLTV
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Total Base Loan Amount(s)
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1st LOAN TERMS & MI/PMI
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1st Mortgage Loan Amount
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1st Mortgage Loan Amount w/Financed Fees
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Interest Rate
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Discount Points
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Interest Only
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Loan Term in Years
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Principal and Interest Payments
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Enter Proposed Mortgage Insurance Factors, VA Funding Fee or USDA Rural Housing Program Fee if Applicable:
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Monthly Mortgage Insurance Factor
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Monthly MI or PMI Cost
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Upfront MI/SP-PMI, VA or USDA Fee
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Cost of Upfront MI or Single Premium PMI
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Add Upfront or or SP PMI to Loan Amount
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Years of Continuance for MI/PMI
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Total MI/PMI Paid over Years Selected
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Total Mo. Payments with MI/PMI
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2ND LOAN TERMS
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Loan Amount
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Combined Loan to Value Ratios equals
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Current and Proposed Interest Rates
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Discount Points if any
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Current and Proposed Loan Terms
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Click box if Interest Only
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Total Monthly Payments 2nd Loan
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Total Mo. Payments - 1st, 2nd & MI
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Weighted Average Interest Rate
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MONTHLY EXPENSES
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Monthly Insurance
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Monthly Taxes
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Monthly Fee
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Other Monthly Cost
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Total Monthly Expenses
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Grand Total Monthly Payments
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CLOSING COSTS for 1ST LOAN
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Cost of Discount Points
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Cost of Upfront MI or Single Premium PMI
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Closing Costs 1st Loan =
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Total Costs as % of the New Loan Amount
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Lender Credit
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Total Closing Costs for 1st Loan
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CLOSING COSTS for 2ND LOAN
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Cost of Discount Points
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Closing Costs 2nd Loan =
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Total Costs as % of the New Loan Amount
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Lender Credit
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Total Closing Costs for 2nd Loan
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Grand Total Closing Costs
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CASH TO CLOSE
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Down Payment
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Grand Total Closing Costs
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Less Financed MI/PMI, Funding or USDA Fee
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Total Cash to Close
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ANNUAL PERCENTAGE RATE
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APR is the total cost of the loan expressed as an interest rate. It is NOT the actual interest rate that you pay.
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Total Approximate Closing Costs
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Total Cost of MI/PMI
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Total Cost Used for APR Calculation
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1st Loan Annual Percentage Rate / APR =
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ANNUAL PERCENTAGE RATE FOR 2ND LOAN
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Total Approximate Closing Costs
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Total Cost Used for APR Calculation
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1st Loan Annual Percentage Rate / APR =
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QUALIFICATION
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Borrower's Income and Debt Qualification Ratios:
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Borrowers Total Monthly Debts
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Income Ratio
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Debt Ratio
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Cash to Close and Assets Available:
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Cash Reserves Required and Available:
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Cash Reserve Amount Required
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Over/Under
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NET LOAN COST COMPARISON
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Principal Paid 1st
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Interest Paid 1st
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Cost of Monthly MI/PMI
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Total Closing Costs for 1st Loan
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Total Payments and Costs for 1st
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Principal Paid 2nd
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Total Interest Paid 2nd
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Total Closing Costs for 2nd Loan
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Total Payments and Costs for 2nd
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Grand Total Payments and Costs
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