Use this calculator to make a sidebyside, net cost comparison of up to 8 different loan or scenario options.





DOWN PAYMENT AND LOAN AMOUNTS





Total Loan to Value Ratio Needed =















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:


1st Mortgage Loan to Value






2nd Mortgage Loan to Value






Total Loan to Value or CLTV



Total Base Loan Amount(s)
















1st LOAN TERMS & MI/PMI



1st Mortgage Loan Amount



1st Mortgage Loan Amount w/Financed Fees



Interest Rate



Discount Points



Interest Only



Loan Term in Years



Principal and Interest Payments















Enter Proposed Mortgage Insurance Factors, VA Funding Fee or USDA Rural Housing Program Fee if Applicable:


Monthly Mortgage Insurance Factor



Monthly MI or PMI Cost



Upfront MI/SPPMI, VA or USDA Fee



Cost of Upfront MI or Single Premium PMI



Add Upfront or or SP PMI to Loan Amount



Years of Continuance for MI/PMI



Total MI/PMI Paid over Years Selected



Total Mo. Payments with MI/PMI





















2ND LOAN TERMS



Loan Amount



Combined Loan to Value Ratios equals
















Current and Proposed Interest Rates



Discount Points if any



Current and Proposed Loan Terms



Click box if Interest Only



Total Monthly Payments 2nd Loan


















Total Mo. Payments  1st, 2nd & MI




















Weighted Average Interest Rate
















MONTHLY EXPENSES









Monthly Insurance



Monthly Taxes



Monthly Fee



Other Monthly Cost



Total Monthly Expenses



Grand Total Monthly Payments






















CLOSING COSTS for 1ST LOAN









Cost of Discount Points



Cost of Upfront MI or Single Premium PMI









Closing Costs 1st Loan =



Total Costs as % of the New Loan Amount



Lender Credit






Total Closing Costs for 1st Loan
















CLOSING COSTS for 2ND LOAN









Cost of Discount Points









Closing Costs 2nd Loan =



Total Costs as % of the New Loan Amount



Lender Credit






Total Closing Costs for 2nd Loan

















Grand Total Closing Costs














CASH TO CLOSE



Down Payment












Grand Total Closing Costs



Less Financed MI/PMI, Funding or USDA Fee












Total Cash to Close

+




















ANNUAL PERCENTAGE RATE


APR is the total cost of the loan expressed as an interest rate. It is NOT the actual interest rate that you pay.





Total Approximate Closing Costs



Total Cost of MI/PMI






Total Cost Used for APR Calculation



1st Loan Annual Percentage Rate / APR =















ANNUAL PERCENTAGE RATE FOR 2ND LOAN


Total Approximate Closing Costs






Total Cost Used for APR Calculation



1st Loan Annual Percentage Rate / APR =
















QUALIFICATION





Borrower's Income and Debt Qualification Ratios:





Borrowers Total Monthly Debts



Income Ratio



Debt Ratio















Cash to Close and Assets Available:




Cash Reserves Required and Available:





Cash Reserve Amount Required






Over/Under
















NET LOAN COST COMPARISON



Principal Paid 1st



Interest Paid 1st



Cost of Monthly MI/PMI



Total Closing Costs for 1st Loan



Total Payments and Costs for 1st















Principal Paid 2nd



Total Interest Paid 2nd



Total Closing Costs for 2nd Loan



Total Payments and Costs for 2nd















Grand Total Payments and Costs


















Total Principal Paid 1st & 2nd







Tax Deduction on Interest Paid




Tax Deduction on Points Paid




   