How the Calculator Works
Program assumptions last updated: June 17, 2026
One set of inputs, every program
You enter your financial details once—city or county, household size, gross monthly income, monthly debt payments, an estimated credit score range, cash available for closing, veteran status, and whether you're interested in down payment assistance. The calculator then runs that same set of inputs through every supported loan program and shows the results side by side, so you can compare the trade-offs without re-entering anything.
Programs we evaluate
- Conventional (Fannie Mae / Freddie Mac conforming)
- FHA
- VA (for eligible veterans and active-duty service members)
- USDA (for eligible properties in qualifying rural areas)
- Jumbo (loan amounts above conforming limits)
- Down payment assistance overlays applied to the eligible programs above
How each number is estimated
Monthly payment
Calculated from the estimated note rate for each program, the loan amount, and a 30-year amortization schedule, then combined with the other monthly housing costs listed below into a total PITI (principal, interest, taxes, insurance) estimate.
Down payment
Derived from each program's minimum down payment requirement (e.g., 3% Conventional, 3.5% FHA, 0% VA/USDA) applied to the maximum purchase price the program supports for your inputs.
Mortgage insurance
FHA uses standard upfront and annual MIP factors. Conventional uses a typical PMI factor that varies by loan-to-value and credit score band. VA uses the VA funding fee (waived for exempt borrowers). USDA uses the standard guarantee and annual fees. Jumbo loans are evaluated without mortgage insurance.
Property taxes
Estimated using the property-tax rate for the Texas city or county you selected. Rate tables are maintained internally and reflect typical combined rates at the time shown above.
Homeowners insurance
Estimated from a typical Texas annual premium based on the property's estimated value. Your actual premium depends on the carrier, coverage, deductible, and property characteristics.
Debt-to-income (DTI) ratios
We compute a front-end DTI (proposed housing payment divided by gross monthly income) and a back-end DTI (housing payment plus the monthly debts you entered, divided by gross monthly income). Each program is qualified against typical DTI caps; programs that exceed the cap are not shown as qualifying.
Cash needed to close
Estimated as the required down payment plus typical buyer-paid closing costs and prepaid items (taxes, insurance, and interim interest reserves), minus any modeled down payment assistance or seller concessions you indicated.
Maximum purchase price
Solved iteratively: for each program, we find the largest purchase price whose resulting payment fits within the program's DTI cap and whose required cash to close fits within the cash you reported as available.
No account or contact info required
You can run the calculator and view your results without providing a name, email address, phone number, password, login, or account. The calculator works anonymously by default.
The inputs you enter are held in memory in your browser session and are used to produce the results on screen. Contact information is collected and transmitted to our servers only if you voluntarily submit it—for example, by entering your name, email, or phone number to request a follow-up, an emailed copy of your results, or a personalized quote. If you don't take that step, no contact details leave your device.
Estimates, not commitments
All figures shown by this tool—including maximum purchase price, monthly payment, interest rate, mortgage insurance, taxes, and insurance—are indicative estimates based on the information you provide and current program assumptions. They are not a commitment to lend, an offer of credit, a rate lock, or a Loan Estimate as defined under TRID. Final qualification, pricing, and loan terms depend on a full application, a tri-merge credit report, income and asset verification, an appraisal, and lender underwriting review.