Loan Comparison Tool
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Scenario Overview
Scenario Metrics
Loan Type
Conventional
FHA
Conventional
Loan Program/Term
30 year fixed
15 year fixed
7/1 ARM
Sales Price
$425,000
$388,890
$388,890
Down Payment
$388,890
$388,890
$388,890
Financed Mortgage Insurance.
$6,510
$6,510
$6,510
Total First Mortgage Amount
$412,054 | 20%
$412,054 | 20%
$412,054 | 20%
interest rate
6.85%
6.75%
6.625%
principal & interest
$2,674
$2,674
$2,674
mortgage insurance
$182
$182
$182
Est. homeowners insurance
$103
$103
$103
County taxes
$354
$354
$354
City taxes
$120
$120
$120
Scenario Details
Monthly Payment
$ 3,214 /mo
$ 3,314 /mo
$ 3,332 /mo
Relative Monthly Payment Diff.
$0
$99
$117
APR
7.954%
7.483%
7.164%
Estimated Closing Costs
$7,004
$7,004
$32,889
Mortgage Insurance Drops In
92 Months
Never Falls Off
71 Months
Mortgage Insurance Factor
0.53
0.55
0.32
Estiamted Cash to Close
$ 23,314
$ 23,354
$ 32,889
Alert your loan officer that you’d like to move forward with this scenario
Alert your loan officer that you’d like to move forward with this scenario
Congratulations, you’ve alerted your loan officer of you interest!
Scenario Overview
Scenario Metrics
Loan Type
Conventional
Conventional
Loan Program/Term
30 year fixed
7/1 ARM
Sales Price
$425,000
$388,890
Down Payment
$388,890
$388,890
Financed Mortgage Insurance.
$6,510
$6,510
Total First Mortgage Amount
$412,054 | 20%
$412,054 | 20%
interest rate
6.85%
6.625%
principal & interest
$2,674
$2,674
mortgage insurance
$182
$182
Est. homeowners insurance
$103
$103
County taxes
$354
$354
City taxes
$120
$120
Scenario Details
Monthly Payment
$ 3,214 /mo
$ 3,332 /mo
Relative Monthly Payment Diff.
$0
$117
APR
7.954%
7.164%
Estimated Closing Costs
$7,004
$32,889
Mortgage Insurance Drops In
92 Months
71 Months
Mortgage Insurance Factor
0.53
0.32
Estiamted Cash to Close
$ 23,314
$ 32,889
Alert your loan officer that you’d like to move forward with this scenario
Congratulations, you’ve alerted your loan officer of you interest!
Scenario Metrics
Loan Type
Conventional
Loan Program/Term
30 year fixed
Sales Price
$425,000
Down Payment
$388,890
Financed Mortgage Insurance.
$6,510
Total First Mortgage Amount
$412,054 | 20%
interest rate
6.85%
principal & interest
$2,674
mortgage insurance
$182
Est. homeowners insurance
$103
County taxes
$354
City taxes
$120
Scenario Details
Monthly Payment
$ 3,214 /mo
Relative Monthly Payment Diff.
$0
APR
7.954%
Estimated Closing Costs
$7,004
Mortgage Insurance Drops In
92 Months
Mortgage Insurance Factor
0.53
Estiamted Cash to Close
$ 23,314
Alert your loan officer that you’d like to move forward with this scenario
Scenario Metrics
Loan Type
FHA
Loan Program/Term
15 year fixed
Sales Price
$388,890
Down Payment
$388,890
Financed Mortgage Insurance.
$6,510
Total First Mortgage Amount
$412,054 | 20%
interest rate
6.75%
principal & interest
$2,674
mortgage insurance
$182
Est. homeowners insurance
$103
County taxes
$354
City taxes
$120
Scenario Details
Monthly Payment
$ 3,314 /mo
Relative Monthly Payment Diff.
$99
APR
7.483%
Estimated Closing Costs
$7,004
Mortgage Insurance Drops In
Never Falls Off
Mortgage Insurance Factor
0.55
Estiamted Cash to Close
$ 23,354
Alert your loan officer that you’d like to move forward with this scenario
Scenario Metrics
Loan Type
Conventional
Loan Program/Term
7/1 ARM
Sales Price
$388,890
Down Payment
$388,890
Financed Mortgage Insurance.
$6,510
Total First Mortgage Amount
$412,054 | 20%
interest rate
6.625%
principal & interest
$2,674
mortgage insurance
$182
Est. homeowners insurance
$103
County taxes
$354
City taxes
$120
Scenario Details
Monthly Payment
$ 3,332 /mo
Relative Monthly Payment Diff.
$117
APR
7.164%
Estimated Closing Costs
$32,889
Mortgage Insurance Drops In
71 Months
Mortgage Insurance Factor
0.32
Estiamted Cash to Close
$ 32,889
Congratulations, you’ve alerted your loan officer of you interest!
Scenario Metrics
Loan Type
Conventional
Loan Program/Term
30 year fixed
Sales Price
$425,000
Down Payment
$388,890
Financed Mortgage Insurance.
$6,510
Total First Mortgage Amount
$412,054 | 20%
interest rate
6.85%
principal & interest
$2,674
mortgage insurance
$182
Est. homeowners insurance
$103
County taxes
$354
City taxes
$120
Scenario Details
Monthly Payment
$ 3,214 /mo
Relative Monthly Payment Diff.
$0
APR
7.954%
Estimated Closing Costs
$7,004
Mortgage Insurance Drops In
92 Months
Mortgage Insurance Factor
0.53
Estiamted Cash to Close
$ 23,314
Alert your loan officer that you’d like to move forward with this scenario
Scenario Metrics
Loan Type
Conventional
Loan Program/Term
7/1 ARM
Sales Price
$388,890
Down Payment
$388,890
Financed Mortgage Insurance.
$6,510
Total First Mortgage Amount
$412,054 | 20%
interest rate
6.625%
principal & interest
$2,674
mortgage insurance
$182
Est. homeowners insurance
$103
County taxes
$354
City taxes
$120
Scenario Details
Monthly Payment
$ 3,332 /mo
Relative Monthly Payment Diff.
$117
APR
7.164%
Estimated Closing Costs
$32,889
Mortgage Insurance Drops In
71 Months
Mortgage Insurance Factor
0.32
Estiamted Cash to Close
$ 32,889
Congratulations, you’ve alerted your loan officer of you interest!