NMLS #337051

Mortgage Affordability Calculator for Renters

What if Your Rent was a Mortgage Payment?

This calculator will estimate the size of a mortgage you could afford based on the size of your monthly rent payment, the down payment you could afford, and on the anticipated property taxes and homeowner’s insurance

Enter your monthly rent payment:
Enter the anticipated mortgage interest rate:
Enter the term of the mortgage (years):
Enter the anticipated annual property taxes:
Enter the anticipated annual insurance:
Downpayment % 0% 5% 10%
Mortgage you could afford:
Down payment:
Price of home:


This calculator and others on this site are provided without warranty regarding their accuracy or applicability to your individual circumstance.
They are for your personal use and are not intended to replace professional financial advice.

NMLS #337051 | CA Bureau of Real Estate-Real Estate Broker 00919638 | brian@dovemortgage.com | 1-800-707-3683

Rent vs Buy

Rent Vs. Buy Calculator

This calculator will help you to compare the costs of renting to the costs of buying a home. Since there are all kinds of forces at work behind the scenes (interest, property taxes, tax savings, appreciation, opportunity costs, closing costs, selling costs, etc.), comparing the cost of renting to the cost of buying is a lot more complicated than just comparing the monthly mortgage payment to the monthly rent payment. This calculator attempts to forecast the net effects of all the hidden forces so you can make an informed decision.

Description Amount Instructions
Monthly rent ($):
Monthly rental insurance ($):
Expected annual inflation (%):
Purchase price ($):
Down payment ($):
Mortgage term (# of years):
Mortgage interest rate (%):
Discount points (%):
Origination fees (%):
Other loan costs ($):
Mortgage Insurance (PMI %):
Homeowner's insurance (%):
Monthly association dues ($):
Monthly maintenance ($):
Annual property tax ($):
State plus Federal income tax rate (%):
Interest rate you expect to earn on savings (%):
Expected annual home value appreciation (%):
Number of years you will stay at this property:
Agent commission rate (%):
Estimated cost of renting:
Estimated cost of buying:
 


This calculator and others on this site are provided without warranty regarding their accuracy or applicability to your individual circumstance.
They are for your personal use and are not intended to replace professional financial advice.

NMLS #337051 | CA Bureau of Real Estate-Real Estate Broker 00919638 | brian@dovemortgage.com | 1-800-707-3683

Refinance Breakeven

Mortgage Refinancing Calculator

This calculator will help you to decide whether or not you should refinance your current mortgage at a lower interest rate. Not only will this calculator calculate the monthly payment and net interest savings, but it will also calculate how many months it will take to break even on the closing costs.

Principal balance of your mortgage:
(call your mortgage lender and ask for the current payoff amount)
Monthly mortgage payment (principal & interest only):
Your mortgage's current interest rate:
Interest rate you will be refinancing at:
Number of years you will be refinancing for:
Your closing costs :
(Typically, # of points is "2" or dollar amount is .02 times the principal)
Would you like to finance the closing costs?
Your monthly payment if you refinance:
Monthly payment reduction:
# of months for interest savings to offset closing costs:
Interest you'll pay under your current payment plan:
Interest you'll pay under your refinanced payment plan:
This is how much interest you will save if you refinance:
Net refinancing savings (interest savings less closing costs):


This calculator and others on this site are provided without warranty regarding their accuracy or applicability to your individual circumstance.
They are for your personal use and are not intended to replace professional financial advice.

NMLS #337051 | CA Bureau of Real Estate-Real Estate Broker 00919638 | brian@dovemortgage.com | 1-800-707-3683

Refinance and Consolidation Calculator

Mortgage Consolidation & Refinancing Calculator

This calculator will help you to decide whether or not it would be advantageous for you to refinance either a single mortgage, or the consolidation of a first and second mortgage, into a single mortgage. Not only will this calculator calculate the monthly payment and net interest savings (if applicable), but it will also calculate how many months it will take to break even on the closing costs (if applicable).

First Mortgage
Principal balance of your first mortgage ($):
(Contact your lender and ask for the current payoff amount.)
Monthly mortgage payment ($):
(Principal and interest portion only)
First mortgage's current interest rate (%):
Second Mortgage (Optional)
Principal balance of your second mortgage ($):
(Call your mortgage lender and ask for the current payoff amount)
Monthly mortgage payment ($):
(Principal and interest portion only)
Second mortgage's current interest rate (%):
Refinancing
Interest rate at which you will be refinancing (%):
Number of years you will be refinancing for (#):
Closing costs :
Would you like to finance the closing costs?
Your monthly payment amount if you refinance:
Monthly payment (decrease)/increase:
Months before interest savings offset closing costs:
Interest you'll pay under current monthly payment plan:
Interest you'll pay with your refinanced payment plan:
This is how much interest you will save if you refinance:
Net Savings (interest savings less closing costs):


This calculator and others on this site are provided without warranty regarding their accuracy or applicability to your individual circumstance.
They are for your personal use and are not intended to replace professional financial advice.

NMLS #337051 | CA Bureau of Real Estate-Real Estate Broker 00919638 | brian@dovemortgage.com | 1-800-707-3683

Mortgage Tax Calculator

Mortgage Tax-Savings Calculator

This calculator will help you to estimate the tax savings that you will realize due to the deductable interest and property tax payments you will make on your mortgage.

Property value:
Loan amount:
Annual interest rate (%):
Loan term (years):
Points (%):
Loan closing costs:
Property tax rate (%):
Your state and federal tax rate (%):
Number of years to calculate savings for:
Monthly Principal and Interest Payment:
Annual property tax amount:
Tax savings for entered period:


This calculator and others on this site are provided without warranty regarding their accuracy or applicability to your individual circumstance.
They are for your personal use and are not intended to replace professional financial advice.

NMLS #337051 | CA Bureau of Real Estate-Real Estate Broker 00919638 | brian@dovemortgage.com | 1-800-707-3683