Mortgage Payment Calculator

Use our home loan calculator to estimate your mortgage payment.
Monthly Payment
2,200 $/mo
30 yr
Loan Type
Purchase Price
$
Down Payment
$
Interest Rate
%
Loan Amount
$
Term
County
Monthly HOA Dues
$
Loan to Value Ratio
%
This tool and its results are not an offer or commitment to lend. The numbers listed above are meant to be as accurate as possible, but are estimates and for informational purposes only. All loans are subject to borrower qualification. Please contact, via any method available on this site, one of our licensed loan officers to evaluate your personal situation for an accurate estimate.

Online Loan Portal

Your mortgage experience should be as easy and convenient as possible. Our online portal puts the whole mortgage process in the palm of your hand. You can communicate effectively with your loan team, exchange documentation, received status updates and more. If you rely on your phone as much as we do, you'll love what our app can do for you.

Computer Mobile Device

Rent or Buy Calculator

The choice between renting a home or purchasing one is usually one of the biggest financial decisions you can make. It can be difficult to know which is a better option for you. Use our calculator to help you analyze some of the most important up-front, recurring, and opportunity costs associated with this decision.

Purchase Price
$
Years to Stay
Interest Rate
%
Down Payment
$
Term
Home Price Growth Rate
%
Rent Growth Rate
%
Renter's Insurance Rate
%
Investment Rate
of Return
%
County
Closing Costs
%
Costs of Selling
%
Maintenance &
Renovation
%
Home Owner Insurance
%
Monthly HOA Dues
$
This tool is designed to help you compare the estimated costs of renting vs. buying a home over time, under market conditions. This is not an offer or commitment to lend. The decision to buy a home should be based on a detailed analysis of your personal financial situation. Please contact, via any method available on this site, one of our licensed loan officers to evaluate and determine if buying a home is right for you.

This tool analyzes the most pertinent expenses of buying and renting. Some of those expenses are real hard costs. It also takes into account the opportunity costs, including the return you could have earned by investing your money instead of incurring the costs of either buying or renting. All values calculated here are in current US dollars.

Costs Associated with Renting

  • Initial cost assumes a 1-month security deposit.
  • Recurring costs include monthly rent and the cost of renter’s insurance.
  • Opportunity costs are calculated for both your initial cost and each year for your recurring costs.
  • Net proceeds is the return of the assumed security deposit. A negative figure here represents the amount of money returned to you.

Cost Associated with Buying

  • Initial costs include your down payment and your expected closing costs.
  • Recurring costs are expenses you will pay monthly or yearly, including your mortgage payments, the property tax estimated for your county, your homeowner's insurance, any applicable HOA fees, and any maintenance, renovation, or remodeling you do.
  • Opportunity costs are calculated for both your initial costs and each year for your recurring costs.
  • Net proceeds is the amount of money you receive from the sale of your home less the expected closing costs. A negative figure here represents a net benefit to you, even after all your initial and recurring expenses.

If renting a similar home costs more than...

Buying would likely be better, even if you could rent for free.

800 $/mo

...then buying could better.

 

Costs after 9 years Rent Buy
Total $1,000 $1,000
Initial $1,000 $1,000
Recurring $1,000 $1,000
Opportunity $1,000 $1,000
Net proceeds $1,000 $1,000

Qualification Calculator

Need an idea regarding the purchase price or loan amount for which you might qualify? While our tool is not a commitment to lend, it can help you get a potential starting point as you consider purchasing or refinancing a home.

Annual Income
$
Monthly Debt Obligations
$
Down Payment
$
Interest Rate
%
Term
County
Monthly HOA Dues
$
The above numbers are for estimation purposes only and are not a guarantee of borrower qualification nor a pre-qualification offer. Other factors may change the amount for which you may qualify. Please contact, via any method available on this site, one of our licensed loan officers for a detailed analysis of your personal financial situation and an accurate loan pre-qualification.

Estimated/Purchased Loan Amount for which you may qualify...

$250,000

...based on the information provided.

$800/mo

Client Testimonials

Rulon | Pleased & Peaceful Homeowner
People seem to always talk about how bad things are and how when you buy a home the company makes you jump through a bunch of hoops even if you don't know why you have to do it. However, with the Team at Veritas Funding, they will jump through the hoops with you and for you, from you Loan Officer to the President of the company!
Edward | First-Time Buyer
Overall a very positive and professional experience. I was dreading the idea of purchasing a home, but Veritas exceeded my expectations and accommodated every need I had. The manner in which the loan and financing was handled made buying my home a great experience!
Geri | Conventional Purchase
A lot easier than what I have been through in the past. You guys have it together. There was always somebody there to take my calls and to call me back!
Kenneth | Cash-Out Refinance
Easy! This was by far the smoothest and most comfortable process we have experienced. We will be sure to be a return customer. Thanks!
Eleonora | Experienced Buyer
Buying a home is very stressful, especially the loan part. This is my third time going through this process and it was the BEST experience ever!!
Clayton | First-Time Buyer
Veritas Funding was great to work with. This was my first time ever going through a loan process and they exceeded all of my expectations of what should happen. They helped us build an amazing home where we can stay for many, many years to come.
Jennifer | Credit Challenges
A great experience! Already recommending them to friends.
Misty | FHA Purchase
Everything about this experience with them was amazing. They made the whole process so smooth and easy. They have a customer for life.
John | Utah Housing Purchase
Their service was a stress reliever I could not have made it through the process sanely without the moral support and expertise of all parties involved.
Nikki | FHA Purchase
The process with Veritas could not have gone better. They are such a trustworthy group that will lay everything on the table from the beginning. No hidden fees, no hidden agenda. I would never use anyone besides Veritas at this point!