How accurate are these mortgage calculators?

Our calculators use industry-standard formulas and current market data to provide accurate estimates. However, actual loan terms depend on your credit profile, income verification, property appraisal, and lender-specific requirements. For a precise quote tailored to your situation, contact our team for a pre-approval.

Will using these calculators affect my credit score?

No. Using our calculators does not require a credit check and will not impact your credit score in any way. You can explore your options freely and use the tools as many times as you like without any effect on your credit.

What's included in my monthly mortgage payment?

Your monthly mortgage payment typically includes four components (PITI): Principal (the loan amount you're repaying), Interest (the lender's charge), property Taxes (collected in escrow), and Insurance (both homeowner's insurance and PMI if you put down less than 20%). Some payments may also include HOA fees if applicable.

What is a good debt-to-income ratio for a mortgage?

Most lenders prefer a DTI ratio of 43% or lower for conventional loans, though some programs (especially FHA and VA loans) may allow higher ratios. A lower DTI ratio improves your chances of approval and may qualify you for better rates. Your DTI is calculated by dividing your total monthly debt payments by your gross monthly income.

How much do I need for a down payment?

Down payment requirements vary by loan type. Conventional loans typically require 3-20%, FHA loans require as little as 3.5%, VA loans offer 0% down for eligible veterans, and USDA loans also offer 0% down in eligible rural areas. A 20% down payment eliminates the need for private mortgage insurance (PMI).

Can I remove PMI from my mortgage?

Yes. For conventional loans, PMI can typically be removed once you reach 20% equity in your home through a combination of payments and appreciation. You may need to request removal and pay for an appraisal. PMI is automatically terminated once you reach 22% equity. FHA loans have different MIP rules that may require refinancing to remove.

Reviewed by CEO Vatche Saatdjian — 30+ years — FHA loan expert

Last Updated: February 11, 2026

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Explore our mortgage calculators

Choose the calculator that fits your needs for your home financing journey.

FHA Mortgage Calculator

Calculate your FHA monthly payment with MIP.

FHA MIP Calculator

Calculate FHA mortgage insurance costs.

Affordability Calculator

Find out how much home you can afford.

FHA Closing Costs Calculator

Estimate all FHA closing costs in Nevada.

Refinance Savings

Estimate how much you could save.

Cash-Out Calculator

Access cash from your home equity.

DTI Calculator

Calculate your debt-to-income ratio.

PMI Calculator

Estimate your mortgage insurance costs.

Amortization Schedule

View your complete payment breakdown.

Why use Valley West Mortgage calculators?

Get accurate, instant estimates to make informed decisions about your home financing options.

Instant Results

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Industry-Standard Formulas

Our calculators use the same methods that lenders use to evaluate loan applications.

No Commitment Required

Explore your options freely. No credit check, no obligation, no impact on your credit score.

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Understanding your mortgage numbers

Monthly Payment Components: Your mortgage payment typically includes four parts (PITI): Principal (loan amount), Interest (lender's charge), property Taxes, and Insurance (homeowner's insurance and possibly PMI).

Debt-to-Income Ratio: Lenders use your DTI to determine how much you can borrow. Most lenders prefer a DTI below 43%, though some programs allow higher ratios.

Down Payment Impact: A larger down payment reduces your loan amount, lowers monthly payments, and may eliminate PMI if you put down 20% or more.

Interest Rate Sensitivity: Even a small change in interest rate can significantly impact your monthly payment and total interest paid over the life of the loan.

Frequently asked questions

Get answers to common questions about mortgage calculations and home financing.

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