Mortgage calculator: FHA, VA & conventional
See how much home you can afford and estimate your full monthly payment, with FHA mortgage insurance, the VA funding fee or PMI built in. Rates default to our market snapshot from October 20, 2026 — edit anything to match your situation.
Rate prefilled from our daily market snapshot (October 20, 2026). Edit it to match your own quote.
You could afford a home up to
$409,000
About $3,081/mo, all in — within a 43% DTI on $3,083/mo of housing budget.
Estimates only. Your actual rate and payment depend on a full application.
How the calculator works
Affordability finds the highest price whose full monthly payment fits your budget: gross monthly income times the DTI ceiling, minus your other monthly debts. The payment is principal and interest on the loan, plus property tax, insurance, mortgage insurance and HOA.
- Conventional: PMI applies until you reach 80% loan-to-value.
- FHA: 3.5% minimum down, a 1.75% upfront premium added to the loan, and monthly MIP.
- VA: 0% down, the funding fee added to the loan, and no monthly mortgage insurance.
Worked example: a $500,000 home with 3.5% down on FHA is a $482,500 base loan plus $8,444 upfront MIP, so you borrow $490,944, and monthly MIP is $221 (0.55% of $482,500 ÷ 12). The same home on a first-use VA loan with 0% down is a $500,000 loan plus a $10,750 funding fee, and no monthly MIP.
Questions
How is FHA mortgage insurance calculated?
FHA loans carry a 1.75% upfront mortgage insurance premium, usually added to the loan, plus an annual premium paid monthly. On a 30-year loan up to $726,200 the annual premium is 0.55% with less than 5% down and 0.50% with 5% or more down. It lasts for the life of the loan with less than 10% down, or 11 years with 10% or more down.
How much is the VA funding fee?
On a purchase it is 2.15% of the loan for a first use with less than 5% down, 3.3% for a later use with less than 5% down, 1.5% with 5% to 9.99% down and 1.25% with 10% or more down. It is usually financed into the loan. Veterans who receive VA disability compensation, and surviving spouses, pay no funding fee. VA loans have no monthly mortgage insurance.
What debt-to-income ratio do lenders use?
The calculator defaults to a 43% total debt-to-income ratio: your new housing payment plus your other monthly debts, divided by gross monthly income. FHA and VA loans can go higher with strong compensating factors, so change the DTI ceiling under Advanced to see the difference.
Does the payment include taxes and insurance?
Yes. The monthly figure includes principal and interest, property tax, homeowners insurance, mortgage insurance (PMI for conventional, MIP for FHA, none for VA) and HOA dues. Edit the tax rate, insurance and HOA under Advanced to match the home.