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FHA Versus Conventional...

Mortgage loans are like power tools: You get the best results by using the right one for the job at hand. For many borrowers that may mean bypassing the conventional route to find the one that fits your budget today and is the least likely to cause financial stress in the future.  

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Disclaimers

Mortgage Affordability Calculator

This assumes a fixed rate loan with the rate and term on the screen. Also it assumes a max DTI of 28% and a total household expense of 36%, Annual Property taxes of 1% and an annual insurance rate of 0.137 %. If the LTV is greater than 80% it includes an estimated monthly PMI payment of $65 regardless of the loan amount. The payment is the total PITIMI payment

Refinance Mortgage Calculator

The months to payoff fees is the fee total divided by the difference in the old and new payment. The interest saved is the difference between the total interest paid on the new loan minus the interest remaining to be paid on the old loan.

Interest Only Mortgage Calculator + Fixed Rate Mortgage Calculator

The payment is the PI payment only.