Interactive Mortgage Payment Calculator
Adjust home price, down payment, rate, taxes, and fees to explore an estimated monthly housing payment.
Educational Housing-Payment Planning Examples
Find Your Best Loan Options
Answer 4 quick questions to see which loan programs fit your financial situation best. (Click any step to change your answers anytime)
What is your primary buying goal?
What is your estimated credit score tier?
Do any of these special statuses apply to you?
Loan Programs to Learn More About
These are educational suggestions based only on your answers—not eligibility results or recommendations.
Interactive Buyer Pre-Approval Checklist
Review documents that are commonly requested during a mortgage pre-approval.
Mortgage Loan Types Breakdown
Compare general features of major home-loan programs. Program availability and guidelines vary by borrower, property, and lender.
Conventional Loan
The standard choice for buyers with good to excellent credit.
- Possible Down Payment: As low as 3% for some eligible buyers
- Credit: Planning reference: 620+ for many manually underwritten fixed-rate conventional loans; automated underwriting and lender overlays vary
- PMI: Cancellation may be requested around 80% LTV if conditions are met; eligible loans generally terminate automatically at 78% of original value
- Best For: Primary homes, second homes, & investments
FHA Loan
Government-backed loan offering flexible credit guidelines.
- Possible Down Payment: As low as 3.5% for eligible borrowers
- Credit: Planning reference: 580+ for maximum FHA financing; 500–579 may be limited to 90% LTV. Lender rules may be stricter
- PMI Rule: Low upfront & monthly MIP
- Best For: Buyers building credit or higher DTI ratio
VA Military Loan
A government-backed option for eligible service members, veterans, and certain surviving spouses.
- Possible Down Payment: 0% for eligible borrowers
- Credit: Planning reference: VA has no universal minimum; lenders set requirements, often around 620
- Mortgage Insurance: No monthly PMI; a VA funding fee may apply
- Best For: Eligible service members & veterans
USDA Rural Loan
A government-backed option for eligible borrowers and properties in designated areas.
- Possible Down Payment: 0% for eligible borrowers
- Credit: Planning reference: 640+ is a common validated-score benchmark; lower scores may require more review
- PMI Rule: Very low annual guarantee fee
- Best For: Buyers purchasing in designated areas
Jumbo Loan
Financing for loan amounts above the applicable FHFA conforming loan limit.
- Down Payment: Varies by lender, loan size, and borrower profile
- Credit: Planning reference: No universal score; stronger credit, reserves, and lower debt may be expected
- Loan Amount: Product and lender limits vary
- Best For: Luxury homes, high-cost markets, & high-net-worth buyers
Second / Vacation Home
Financing options for eligible secondary or vacation residences.
- Down Payment: Varies by occupancy, lender, and borrower profile
- Credit: Planning reference: Usually follows conventional-style credit review; lender and property rules vary
- Occupancy: Must meet second-home occupancy requirements
- Best For: Beach houses, mountain cabins, or seasonal retreats
DSCR Investor Loan
Some investor programs evaluate property cash flow rather than traditional personal-income documentation.
- Down Payment: Product and borrower requirements vary
- Credit: Planning reference: No universal score; non-QM lenders review credit, reserves, property cash flow, and terms
- Documentation: Requirements vary by program and lender
- Best For: Real estate investors & portfolio buyers
Bank Statement Loan
Some non-QM programs may use personal or business bank statements to document income.
- Down Payment: Product and borrower requirements vary
- Credit: Planning reference: No universal score; non-QM lenders review credit, deposits, income documentation, and reserves
- Documentation: Statement period and expense treatment vary
- Best For: Business owners, 1099 freelancers, & entrepreneurs
