Mortgage Calculators
Estimate your monthly payment, see how buying down your rate with points saves money, compare financing strategies, or look up local tax and insurance rates.
Leave property value blank to use the Estimated Home Value above. Override it here to adjust tax & insurance independently.
Estimated Monthly Payment
$2,846
Principal & Interest
$2,528
Property Tax
$521
Insurance
$125
Extra Payment
$0
New Loan Amount
$400,000
Balance Over Time
Remaining Balance
Principal Paid
Interest Paid
Estimates are for informational purposes only. Actual payments may vary.
Conventional Loan Guidelines
Source: Fannie Mae & Freddie Mac (FHFA)
Minimum Down Payment
Primary residence: 3% (first-time buyers) to 5%. Second home: 10%. Investment property: 15–25%.
Private Mortgage Insurance (PMI)
Required when LTV exceeds 80%. Automatically terminated at 78% LTV per the Homeowners Protection Act. Can request removal at 80% with good payment history.
Credit Score
Minimum 620. Higher scores unlock better rates and lower PMI. Best pricing at 740+.
Debt-to-Income (DTI)
Maximum 45% back-end DTI. Up to 50% with strong compensating factors (high reserves, excellent credit).
Loan Limits (2026)
Conforming: $806,500 most counties. High-cost areas up to $1,209,750. Updated annually by FHFA.
Occupancy
Primary residence, second home, and investment property eligible. Terms and pricing vary by occupancy type.
Conventional 97 / HomeReady
Fannie Mae HomeReady and Freddie Mac Home Possible allow 3% down. Income limits apply (≤80% AMI). Reduced PMI rates.
Seller Concessions
LTV >90%: max 3%. LTV 75–90%: max 6%. LTV <75%: max 9%. Investment property: max 2%.
Rate Pricing (LLPAs)
Loan-level price adjustments based on credit score, LTV, property type, and occupancy. Set by FHFA and applied by all conventional lenders.
This information is for educational purposes only and does not constitute financial advice. Program guidelines are subject to change. Contact Andrew Baker for current rates, terms, and eligibility requirements specific to your situation.
Leave property value blank to use the Estimated Home Value above. Override it here to adjust tax & insurance independently.
Estimated Monthly Payment
$2,846
Principal & Interest
$2,528
Property Tax
$521
Insurance
$125
Extra Payment
$0
New Loan Amount
$400,000
Balance Over Time
Remaining Balance
Principal Paid
Interest Paid
Estimates are for informational purposes only. Actual payments may vary.
Conventional Loan Guidelines
Source: Fannie Mae & Freddie Mac (FHFA)
Minimum Down Payment
Primary residence: 3% (first-time buyers) to 5%. Second home: 10%. Investment property: 15–25%.
Private Mortgage Insurance (PMI)
Required when LTV exceeds 80%. Automatically terminated at 78% LTV per the Homeowners Protection Act. Can request removal at 80% with good payment history.
Credit Score
Minimum 620. Higher scores unlock better rates and lower PMI. Best pricing at 740+.
Debt-to-Income (DTI)
Maximum 45% back-end DTI. Up to 50% with strong compensating factors (high reserves, excellent credit).
Loan Limits (2026)
Conforming: $806,500 most counties. High-cost areas up to $1,209,750. Updated annually by FHFA.
Occupancy
Primary residence, second home, and investment property eligible. Terms and pricing vary by occupancy type.
Conventional 97 / HomeReady
Fannie Mae HomeReady and Freddie Mac Home Possible allow 3% down. Income limits apply (≤80% AMI). Reduced PMI rates.
Seller Concessions
LTV >90%: max 3%. LTV 75–90%: max 6%. LTV <75%: max 9%. Investment property: max 2%.
Rate Pricing (LLPAs)
Loan-level price adjustments based on credit score, LTV, property type, and occupancy. Set by FHFA and applied by all conventional lenders.
This information is for educational purposes only and does not constitute financial advice. Program guidelines are subject to change. Contact Andrew Baker for current rates, terms, and eligibility requirements specific to your situation.
Estimated Max Home Price
$642,721
Max Loan Amount
$578,449
Down Payment
$64,272
Est. Monthly Payment
$3,800
Max Monthly Housing
$3,800
Estimates are for informational purposes only. Actual qualification may vary.
Minimum Down Payment by Program
Affordability & Qualification Guidelines
Source: CFPB Ability-to-Repay Rule (ATR) / Qualified Mortgage Standards
Front-End Ratio (Housing)
Monthly housing costs (PITIA) divided by gross monthly income. Conventional guideline: 28%. FHA: 31%. VA: no hard cap (residual income used).
Back-End Ratio (Total DTI)
All monthly debts divided by gross income. Conventional max: 45–50%. FHA max: 43–57%. VA: 41% guideline (flexible with residual income).
Qualified Mortgage (QM)
Under the CFPB's ATR rule, QM loans provide a safe harbor for lenders. General QM: DTI up to 43% or meets GSE/agency standards.
Residual Income
VA loans use residual income (money left after all obligations) rather than strict DTI ratios. Minimums vary by family size and region.
Reserves
Savings remaining after closing. Conventional: 0–6 months depending on loan type. Jumbo: 6–12 months typically required.
Gift Funds
Conventional: Gift funds allowed for down payment on primary residence (100% gift permitted with 20%+ down). FHA: 100% gift funds allowed. VA: No down payment required. Gift donors must be related by blood, marriage, or legal relationship (varies by program).
Self-Employment Income
Self-employed borrowers typically need 2 years of tax returns. Income is averaged and adjusted for depreciation, depletion, and business losses per Fannie Mae and FHA guidelines. A year-to-date P&L may be required.
This information is for educational purposes only and does not constitute financial advice. Program guidelines are subject to change. Contact Andrew Baker for current rates, terms, and eligibility requirements specific to your situation.
Rent vs. Buy Calculator
Compare the true cost of renting versus buying over time to see when buying becomes the better financial decision.
If You Buy
If You Rent
Time Horizon
Buy vs Rent
—
Total Cost to Buy
$0
Monthly Payment (PITI)
$0
Equity Built
$0
Home Value at End
$0
Total Cost to Rent
$0
Rent in Year 1
$0/mo
Rent in Final Year
$0/mo
Net Advantage of Buying
$0
Break-Even Point
— years
Home Buying Guidelines
When buying makes financial sense
Time Horizon: Plan to stay 5+ years to recover closing costs
Down Payment: 3-20% depending on loan program
Monthly Budget: Housing costs under 28-33% of gross income
Credit Score: 620+ conventional, 580+ FHA, no min VA
Tax Benefits: Mortgage interest and property tax deductions
Equity Building: Each payment builds ownership stake
Appreciation: Historical average 3-5% per year nationally
Hidden Costs: Maintenance (1-2%/yr), HOA, repairs, insurance
The break-even point is when your total cost of buying equals total cost of renting. Below 3-4 years, renting usually wins. Above 5-7 years, buying almost always wins due to equity and appreciation.
Closing Cost Estimator
Estimate your total closing costs for a purchase or refinance based on loan amount and location.
Estimated Closing Costs
$0
Down Payment
$0
Loan Amount
$0
Origination Fee (1.5% – 3.5%)
$0
Appraisal
$0
Title & Escrow
$0
Recording & Transfer
$0
Prepaid Interest
$0
Escrow Reserves (Tax+Ins)
$0
Discount Points
$0
Total Closing Costs
$0
Credits Applied
-$0
Total Cash to Close
$0
These fees are estimates only. Actual closing costs may vary based on lender, location, loan program, and transaction specifics. Contact Andrew for a detailed Loan Estimate.
Purchase Closing Costs
Typical 2-5% of loan amount
Origination Fee: 0.5-3% of loan amount
Appraisal: $500-$800 (varies by property)
Title Insurance: $1,000-$3,000+ based on loan amount
Escrow/Settlement: $500-$1,500
Recording Fees: $100-$500 (county-specific)
Prepaid Interest: Per diem from closing to month-end
Escrow Reserves: 2-6 months taxes + insurance
Transfer Tax: Varies by state and county
Seller concessions can cover some or all closing costs: Conventional allows 3-9%, FHA allows 6%, VA allows 4% + customary fees. Ask your agent to negotiate seller credits.
Refinance Savings Calculator
See exactly how much you'd save by refinancing, when you break even, and your total savings over the life of the loan.
Current Loan
New Loan
Costs
Monthly Savings
$0
Current Payment
$0
New Payment
$0
Break-Even Point
— months
Savings Over Hold Period
$0
Lifetime Interest Savings
$0
New Loan Amount
$0
Net Cost After Savings
$0
Verdict
—
Rate & Term Refinance Guidelines
Lower your rate or change your term
When to Refi: Rate drop of 0.5%+ or eliminating PMI
Max LTV: 97% conventional, 97.75% FHA, 100% VA IRRRL
Seasoning: 6+ payments on current loan (most programs)
Net Tangible Benefit: Must demonstrate savings (FHA/VA requirement)
Credit Score: 620+ conventional, 580+ FHA, no min VA
Break-Even: Closing costs ÷ monthly savings = months to recover
Rule of thumb: if your break-even is under 24 months and you plan to keep the loan 3+ years, refinancing makes sense. VA IRRRL and FHA Streamline offer the fastest, lowest-cost refi options.
VA IRRRL Calculator
Estimate your savings with a VA Interest Rate Reduction Refinance Loan. Also known as a VA Streamline Refinance — available to veterans with an existing VA loan.
0.5% standard IRRRL funding fee.
Monthly Savings
$0
Current Monthly Payment
$0
New Monthly Payment
$0
New Loan Amount
$0
Funding Fee
$0
Break-Even Point
— months
5-Year Savings
$0
Estimates are for informational purposes only. No PMI required on VA loans.
VA IRRRL Program Guidelines
Source: VA Circular 26-23-14 / 38 CFR Part 36
Eligibility
Must have an existing VA-backed home loan. The IRRRL refinances a VA loan into a new VA loan with better terms. Certificate of Eligibility (COE) is automatically transferred.
Net Tangible Benefit
Required by the VA. The new loan must provide a clear financial benefit: lower rate, lower payment, or conversion from adjustable to fixed rate.
Funding Fee
Standard IRRRL funding fee is 0.5% of the loan amount. Exempt for veterans with a 10% or higher service-connected disability rating.
No Appraisal Required
VA IRRRLs do not require a new appraisal or credit underwriting package, though lenders may require a credit check.
Occupancy
Borrower must certify they previously occupied the property. Current occupancy is not required (e.g., the home can now be a rental).
Seasoning
The existing VA loan must be at least 210 days old, and at least 6 monthly payments must have been made.
Cash-Out
No cash to the borrower is permitted on an IRRRL (except a maximum $6,000 for energy efficiency improvements).
36-Month Recoupment Requirement
The VA requires that all costs of the IRRRL (funding fee, closing costs, and any fees rolled into the loan) must be recouped through monthly payment savings within 36 months. If costs cannot be recovered within this period, the loan fails the Net Tangible Benefit test and cannot close.
Recoupment Calculation
Recoupment = Total Loan Costs ÷ Monthly Savings. Example: $3,000 in costs with $150/month savings = 20 months to recoup (passes). If recoupment exceeds 36 months, the lender must document an alternative net tangible benefit (e.g., ARM to fixed conversion).
Loan Churning Protections
Per VA Circular 26-19-15, lenders are prohibited from repeatedly refinancing VA loans without meaningful benefit. The VA monitors IRRRL activity and may sanction lenders who engage in loan churning. Borrowers should see a genuine reduction in rate or payment.
Rate Reduction Requirement
For fixed-to-fixed refinances, the new rate must be at least 0.5% lower than the existing rate (net of any increase in the funding fee). For ARM-to-fixed conversions, no minimum rate reduction is required — the stability of a fixed rate qualifies as the benefit.
Maximum Loan Term
The new loan term cannot exceed the original loan term plus 10 years. For example, if 25 years remain on the current loan, the maximum new term is 30 years (not 35).
Escrow Requirements
VA loans generally require escrow accounts for property taxes and homeowners insurance. When refinancing, the new escrow account must be properly funded at closing.
This information is for educational purposes only and does not constitute financial advice. Program guidelines are subject to change. Contact Andrew Baker for current rates, terms, and eligibility requirements specific to your situation.
FHA Streamline Calculator
Estimate your savings with an FHA Streamline Refinance — available to borrowers with an existing FHA loan. No appraisal, no income verification, and reduced documentation.
Typically 0.01% if refinancing within 3 years of original FHA loan. Otherwise 1.75%.
Most FHA streamlines: 0.55% for 30-yr, 0.15–0.40% for 15-yr.
Monthly Savings
$0
Current Payment (P&I + MIP)
$0
New Payment (P&I + MIP)
$0
New Loan Amount
$0
UFMIP Amount
$0
Monthly MIP
$0
Break-Even Point
— months
5-Year Savings
$0
Estimates are for informational purposes only. Must have existing FHA loan to qualify for streamline.
FHA Streamline Refinance Guidelines
Source: HUD Mortgagee Letter 2023-05 / 24 CFR Part 203
Eligibility
Must have an existing FHA-insured mortgage. The new loan must result in a Net Tangible Benefit (lower combined rate + MIP, or conversion from ARM to fixed).
Credit & Income
No credit qualifying streamline: no income verification, no credit score minimum, no appraisal. Credit qualifying streamline: standard FHA underwriting applies.
UFMIP (Upfront MIP)
Reduced to 0.01% if refinancing within 3 years of the original FHA loan. Otherwise, the standard 1.75% UFMIP applies. Can be financed into the loan.
Annual MIP
Current rates: 0.55% annually for most 30-year loans with LTV >95%. 0.50% for LTV ≤95%. 15-year terms: 0.15–0.40% depending on LTV.
Seasoning
At least 210 days must have passed since closing, and at least 6 monthly payments must have been made on the existing FHA loan.
Net Tangible Benefit
The combined reduction in interest rate + annual MIP must be at least 0.5%. Refinancing from a fixed to an ARM requires at least a 2% rate reduction.
Maximum Loan Amount
Limited to the existing principal balance plus the new UFMIP. No cash-out is permitted on a streamline refinance.
36-Month Recoupment Requirement
HUD requires that the borrower must recoup all costs of the streamline refinance (including the UFMIP, closing costs, and prepaids) within 36 months through the reduction in monthly mortgage payments. This ensures the refinance provides a genuine financial benefit to the borrower.
Recoupment Calculation
Recoupment = Total Costs (UFMIP + closing costs + prepaids) ÷ Monthly Payment Reduction. The result must be 36 months or less. If rolling the UFMIP into the loan, the financed amount is included in the cost calculation.
MIP Refund (UFMIP Credit)
If refinancing within 3 years of the original FHA loan, borrowers receive a partial refund of the original UFMIP on a declining scale. This refund is typically applied as a credit toward the new UFMIP, significantly reducing the upfront cost.
MIP Duration
For FHA loans with a down payment of less than 10%, annual MIP is required for the life of the loan. For loans with 10%+ down payment, MIP can be removed after 11 years. This applies to the new streamline loan based on the original LTV.
Payment History
Borrower must be current on the existing FHA mortgage with no late payments in the last 6 months and no more than one 30-day late payment in the last 12 months. This is verified even on non-credit qualifying streamlines.
Loan-to-Value (LTV)
No maximum LTV on FHA Streamline refinances — borrowers can be underwater (owe more than the home is worth) and still qualify. This is a key advantage over conventional refinancing.
Occupancy
The property must have been the borrower's primary residence at the time the original FHA loan closed. Current occupancy is not strictly required — the home may have since been converted to a rental or investment property.
This information is for educational purposes only and does not constitute financial advice. Program guidelines are subject to change. Contact Andrew Baker for current rates, terms, and eligibility requirements specific to your situation.
Cash-Out Refi vs. Second Mortgage
Compare refinancing your first mortgage against adding a second mortgage to access your equity.
Your Current First Mortgage
Your Existing Second Mortgage
Cash You Need
Option A — Cash-Out Refinance (New First Mortgage)
Option B — Keep First Mortgage + Add Second Mortgage
These estimates are for comparison purposes only. Actual rates, payments, and costs will vary. Contact me to run your real numbers.
Refinance vs. Second Mortgage Guidelines
Source: CFPB & Federal Lending Regulations
Cash-Out Refinance
Replaces your existing mortgage with a new, larger loan. Max LTV: 80% conventional, 85% FHA, 100% VA. Closing costs typically 2–5% of loan amount.
Home Equity Loan (Second Mortgage)
Fixed-rate lump sum with a second lien. Combined LTV (CLTV) typically capped at 85–90%. Does not disturb your first mortgage rate.
HELOC (Home Equity Line of Credit)
Variable-rate revolving credit line secured by your home. Draw period typically 10 years, repayment period 20 years. Rate adjusts with prime.
Right of Rescission
Per the Truth in Lending Act (TILA), borrowers have a 3-business-day right to cancel refinances and HELOCs on primary residences.
When to Refinance vs. Borrow
If your current rate is high, a cash-out refi may lower your overall cost. If your rate is low, a second mortgage preserves it while accessing equity.
Break-Even / Recoupment Analysis
The CFPB recommends calculating your break-even point before refinancing: Total Closing Costs ÷ Monthly Savings = Months to Recoup. If you plan to stay in the home longer than the break-even period, refinancing makes financial sense. If you may move sooner, a HELOC or home equity loan may be more cost-effective.
VA Cash-Out Refinance
VA cash-out refinances allow up to 100% LTV. The VA funding fee for a cash-out refi is 2.15% (first use) or 3.3% (subsequent use). Exempt for veterans with 10%+ disability. A 36-month recoupment test also applies to VA cash-out refis.
FHA Cash-Out Refinance
FHA cash-out refinances allow up to 80% LTV. Requires a new appraisal. UFMIP of 1.75% applies. The existing loan does not need to be FHA — any mortgage type can be refinanced into an FHA cash-out.
This information is for educational purposes only and does not constitute financial advice. Program guidelines are subject to change. Contact Andrew Baker for current rates, terms, and eligibility requirements specific to your situation.
Loan Program Comparison
Compare Conventional, FHA, and VA loan programs side by side for the same property.
Conventional Loan Guidelines
Fannie Mae / Freddie Mac
Min Down Payment: 3% (first-time) / 5% (repeat)
Min Credit Score: 620
Max DTI: 45% (50% with strong compensating factors)
PMI: Required above 80% LTV — removable at 80%
Loan Limit: $806,500 (2026 conforming)
Property Types: SFR, 2-4 unit, condo, co-op, PUD
Occupancy: Primary, second home, investment
Gift Funds: Allowed with 5%+ down (100% gift OK at 20%+ down)
Seller Concessions: 3% (≤10% down) / 6% (10-25%) / 9% (25%+)
Reserves: 0-6 months depending on property type
Best for: borrowers with 680+ credit, 5%+ down, who want removable MI. Lowest total cost for strong-credit borrowers.
Rate Buydown Calculator
See how buying discount points upfront can lower your rate, reduce your monthly payment, and save you money over the life of the loan.
−4
+4
Lender Credit
Discount Points
1.000
points
Base Rate — No Points
Rate
6.750%
Monthly P&I
$0
Total Interest
$0
Saves $0/mo
With Points
New Rate
6.500%
Monthly P&I
$0
Total Interest
$0
Cost of Points
$0
Monthly Savings
$0
Breakeven
0 mo
Net Lifetime Savings
$0
Net Savings Over Time
Net Savings / Cost Over Time
Breakeven Point
All Point & Credit Levels at a Glance
| Points | Cost / Credit | Rate | Monthly P&I | Mo. Difference | Breakeven | Net Savings (Life) |
|---|
One discount point = 1% of the loan amount paid upfront at closing to lower your rate. A lender credit is the reverse — you accept a higher rate and receive a credit toward closing costs. All values shown in ⅛-point (0.125) increments for fine-tuning. This calculator models diminishing returns — the first point gives the full stated reduction, with each additional point yielding slightly less, reflecting real-world lender pricing. Actual rate adjustments vary by lender and market conditions. Contact me to see your real options.
Rate Buydown Guidelines
Source: Fannie Mae Selling Guide & FHA/VA Handbooks
What Is a Buydown?
A temporary or permanent reduction in the mortgage interest rate, typically paid upfront by the seller, builder, or borrower as prepaid interest.
Temporary Buydowns (2-1, 3-2-1)
The rate increases annually until it reaches the note rate. Borrowers must qualify at the full note rate, not the bought-down rate.
Permanent Buydowns (Discount Points)
Each point costs 1% of the loan amount and typically reduces the rate by 0.25%. The benefit is permanent for the life of the loan.
Seller Contribution Limits
Conventional: 3% (LTV >90%), 6% (LTV 75–90%), 9% (LTV <75%). FHA: 6%. VA: 4% + reasonable/customary.
Tax Deductibility
Discount points paid by the borrower may be tax-deductible in the year of purchase. Consult a tax advisor for your specific situation.
This information is for educational purposes only and does not constitute financial advice. Program guidelines are subject to change. Contact Andrew Baker for current rates, terms, and eligibility requirements specific to your situation.
DSCR Loan Calculator
See if your investment property's rental income qualifies for a DSCR loan — no personal income verification needed.
Property & Loan
Rental Income
Monthly Expenses
Your DSCR Ratio
1.25
Qualifies
Monthly P&I
$0
Monthly PITIA
$0
Effective Rent
$0
Monthly Cash Flow
$0
New Loan Amount
$0
Annual Cash Flow
$0
Monthly Cash Flow Over Time
Net Cash Flow
PITIA Payment
Effective Rent
DSCR Quick Guide
1.25+ Strong — best rates & terms
1.0 – 1.24 Qualifies — standard DSCR programs
Below 1.0 Negative cash flow — limited options, higher rates
1.0 – 1.24 Qualifies — standard DSCR programs
Below 1.0 Negative cash flow — limited options, higher rates
DSCR = Gross Rent ÷ PITIA. Lender requirements vary. Contact me to discuss your deal.
DSCR Loan Program Guidelines
Source: Non-QM / Private Lending Standards
What Is a DSCR Loan?
A Debt Service Coverage Ratio loan qualifies based on the property's rental income rather than the borrower's personal income. DSCR = Gross Rent ÷ PITIA.
Minimum DSCR
Most lenders require a DSCR of 1.0 or higher (rent covers the full payment). Some programs allow 0.75 DSCR with higher down payments.
Down Payment
Typically 20–25% minimum. Lower DSCRs or lower credit scores may require 25–30% down.
Credit Score
Minimum 660–680 for most DSCR programs. Best rates available at 740+.
Non-QM Disclosure
DSCR loans are Non-Qualified Mortgages. They are not backed by Fannie Mae, Freddie Mac, FHA, or VA. Rates are typically higher than conventional loans.
Property Types
Single-family, 2–4 units, condos, and short-term rentals (Airbnb/VRBO) may be eligible depending on the lender.
This information is for educational purposes only and does not constitute financial advice. Program guidelines are subject to change. Contact Andrew Baker for current rates, terms, and eligibility requirements specific to your situation.
Property Tax & Insurance Lookup
Enter a zip code to get estimated property taxes and homeowners insurance rates for that area.
Property Tax & Insurance Guidelines
Source: HUD, RESPA & State Regulations
Property Tax
Assessed by county/local government, typically 0.5–2.5% of assessed value annually. Rates vary significantly by state and county.
Homeowners Insurance
Required by all mortgage lenders. Coverage must equal at least the replacement cost of the home. Shop annually for competitive rates.
Escrow Accounts
Per RESPA, lenders may require escrow accounts for taxes and insurance. Lenders can hold a 2-month cushion beyond what's needed for annual disbursements.
Flood Insurance
Required in FEMA-designated Special Flood Hazard Areas (SFHA). National Flood Insurance Program (NFIP) or private flood insurance accepted.
HOA Dues
Not federally regulated but factored into DTI calculations. Lenders verify HOA financial health for condo approvals.
This information is for educational purposes only and does not constitute financial advice. Program guidelines are subject to change. Contact Andrew Baker for current rates, terms, and eligibility requirements specific to your situation.
Property Value Estimator
Enter an address to auto-fill property details, or enter them manually below.
Property Details
Source 1 · Online Estimate
Enter a Zestimate, Redfin Estimate, or any online home value estimate you have.
Source 2 · Comparable Sales
Enter 1–3 recent nearby sales. Check Zillow's "recently sold" section or ask your Realtor.
Source 3 · Tax Assessment
From your property tax bill or county assessor website.
Typically 60–90% of market value
Source 4 · Replacement Cost
Avg $150–350/sf · Luxury $400+
Source 5 · Rental Income
Residential: 4–7%
Estimated Property Value
$0
Confidence Score
—
Add more sources to improve
Value Range
—
1. Online Estimate
—
2. Comp Sales Analysis
—
3. Tax Assessment
—
4. Replacement Cost
—
5. Income Approach
—
Sources Used
0 / 5
Adjustments
—
Estimate only — not a substitute for a professional appraisal.
Property Valuation Methods
How your home's value is determined
Comparable Sales: Recent sales of similar homes within 0.5-1 mile
Online Estimates: Zillow Zestimate, Redfin, Realtor.com (±5-10% accuracy)
Tax Assessment: County assessed value — often below market value
Replacement Cost: Land value + cost to rebuild the structure
Income Approach: Value based on rental income potential (investors)
Professional Appraisal: Licensed appraiser — required for mortgage lending
Online estimates are useful for ballpark figures but can vary significantly. For mortgage purposes, only a professional appraisal determines the official value. This calculator uses multiple methods weighted by reliability.
Reverse Mortgage Calculator
Estimate how much you could receive from a HECM reverse mortgage based on your age, home value, and current rates.
Estimated Available Proceeds
$0
Home Value
$0
Principal Limit Factor
0%
Gross Principal Limit
$0
Less: Existing Mortgage
-$0
Less: Upfront MIP (2%)
-$0
Less: Est. Closing Costs
-$0
Net Available to You
$0
These figures are estimates only. Actual reverse mortgage proceeds depend on FHA lending limits, interest rates, and individual circumstances. HUD-approved counseling is required before closing. Must be 62+ and occupy the home as your primary residence. Contact Andrew for a personalized analysis.
HECM Loan Guidelines
Home Equity Conversion Mortgage (FHA-insured)
Min Age: 62 years old
Occupancy: Primary residence only
Property Types: SFR, 2-4 unit (owner-occupied), FHA-approved condos, manufactured homes
FHA Limit: $1,209,750 (2026)
Upfront MIP: 2% of appraised value
Annual MIP: 0.5% of loan balance
Credit Score: No FHA minimum (lender overlays may apply)
Income: Not used for qualifying
Counseling: HUD-approved counseling required
Payout Options: Lump sum, monthly tenure/term, line of credit, or combination
Rate Types: Fixed (lump sum only) or adjustable (all options)
Repayment: When borrower sells, moves permanently, or passes away
Borrower must maintain property, pay property taxes, and keep homeowner's insurance current. Failure to meet obligations may result in loan default. Non-recourse: borrower/heirs never owe more than home value.
Important Disclosures
Information accurate as of 07/10/2026. Not all programs are available in all areas. Not all borrowers will qualify for all programs. Program restrictions apply. Please contact our office at (949) 665-9090 to determine eligibility. This is not an offer or extension of credit or a commitment to lend. All loan programs are subject to the specific lender's underwriting guidelines and available loan terms. Approvals may be subject to appraisals and other documentation requirements. Interest rates, loan programs, available loan terms, and other information on this website are subject to change without notice. The Loan Originator named in this advertisement is licensed in the following states only: AL, AR, AZ, CA, CT, DE, FL, IA, ID, KS, KY, MA (DSCR only), ME, MI, MN, MO, NC (DSCR only), ND, NH, NJ (DSCR only), OH, OK, OR, PA, RI (DSCR only), SC (DSCR only), SD, TN, TX, VA, WA, WI, WY. The information on this site is not intended for consumers of any other state. To determine broker or loan originator eligibility please visit: www.nmlsconsumeraccess.org
Information accurate as of 07/10/2026. Not all programs are available in all areas. Not all borrowers will qualify for all programs. Program restrictions apply. Please contact our office at (949) 665-9090 to determine eligibility. This is not an offer or extension of credit or a commitment to lend. All loan programs are subject to the specific lender's underwriting guidelines and available loan terms. Approvals may be subject to appraisals and other documentation requirements. Interest rates, loan programs, available loan terms, and other information on this website are subject to change without notice. The Loan Originator named in this advertisement is licensed in the following states only: AL, AR, AZ, CA, CT, DE, FL, IA, ID, KS, KY, MA (DSCR only), ME, MI, MN, MO, NC (DSCR only), ND, NH, NJ (DSCR only), OH, OK, OR, PA, RI (DSCR only), SC (DSCR only), SD, TN, TX, VA, WA, WI, WY. The information on this site is not intended for consumers of any other state. To determine broker or loan originator eligibility please visit: www.nmlsconsumeraccess.org
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