Smart Real Estate Calculator - Make Informed Decisions
See how different down payments affect your monthly payment, PMI, and total cost.
FHA Tip: Owner-occupied 2-4 unit properties qualify for FHA loans with as little as 3.5% down. Rental income can count toward qualification!
Note: Commercial loans typically require 20-35% down, have shorter terms (5-25 years), and use DSCR (Debt Service Coverage Ratio) for qualification.
House Hacking: Live in one unit and rent the others. FHA allows 75% of projected rental income to count toward qualifying!
Cap Rate = NOI / Purchase Price. A 7% cap rate on a $1M property = $70,000 annual NOI. Lower cap = pricier market.
Your credit score significantly impacts your mortgage rate. See how yours might affect your payment.
How it works: Lenders use credit scores to assess risk. Higher scores typically mean lower rates because you're seen as less likely to default.
| Score Range | Rating | 15-Year Fixed | 20-Year Fixed | 30-Year Fixed | Approval |
|---|---|---|---|---|---|
| 760-850 | Excellent | 5.75% | 6.15% | 6.50% | Very High |
| 700-759 | Good | 6.10% | 6.55% | 6.85% | High |
| 660-699 | Fair | 6.50% | 6.95% | 7.25% | Moderate |
| 620-659 | Below Avg | 7.10% | 7.55% | 7.85% | Lower |
| 580-619 | Poor | 7.75% | 8.25% | 8.50% | FHA Option |
| Below 580 | Very Poor | 8.50%+ | 9.00%+ | 9.25%+ | Difficult |
Compare rent costs across the United States (2024-2025 averages).
| 1. Hawaii | $2,838 |
| 2. California | $2,680 |
| 3. Massachusetts | $2,581 |
| 4. New York | $2,456 |
| 5. New Jersey | $2,298 |
| 1. West Virginia | $953 |
| 2. Arkansas | $987 |
| 3. South Dakota | $1,012 |
| 4. Oklahoma | $1,045 |
| 5. Kentucky | $1,067 |
Find out how long you need to stay in a home for buying to make more financial sense than renting.
Based on your income and debts, see what lenders might approve you for using industry-standard DTI ratios.