Compare My Options
The cheapest monthly payment, the smallest cash requirement and the best long-term position are often three different options. Here they are on one screen, using one set of your numbers.
One set of numbers
Every option below uses the same home price, rate, taxes and assumptions, so the only things changing are the loan program and the down payment.
Every option, side by side
| Option | Cash to close | Monthly | Mortgage insurance | Equity in 10 yrs | Net at 5 yrs | Net at 10 yrs | Net at 20 yrs |
|---|---|---|---|---|---|---|---|
| FHA — 3.5% down | $39,000 | $5,244 | $270 | $310,168 | +$57,689 | +$214,496 | +$649,039 |
| Conventional — 5% down | $48,000 | $5,095 | $242 | $326,388 | +$66,600 | +$221,715 | +$650,689 |
| Conventional — 10% down | $78,000 | $4,807 | $144 | $351,821 | +$64,683 | +$217,148 | +$637,389 |
| Conventional — 20% down | $138,000 | $4,284 | None | $402,687 | +$60,849 | +$208,014 | +$610,788 |
| Keep renting | — | $2,820 | — | — | +$27,210 | +$63,913 | +$180,196 |
How to read this
Under your assumptions, Conventional — 5% down has the strongest 10-year net position, Keep renting has the lowest monthly cost, and FHA — 3.5% down needs the least cash at closing. Those are often three different options — which is exactly why there is no single "best mortgage."
Decide which constraint actually binds you: cash on hand, monthly comfort, or long-term position. Then change appreciation and years in the home to see how stable that answer is.
Assumptions behind these numbers
- Property taxes, homeowners insurance, HOA dues and maintenance are estimates you can change; actual amounts vary by property and municipality.
- Home appreciation, rent growth and investment returns are assumptions, not predictions. Real markets move up and down.
- Mortgage insurance figures are estimates. Actual pricing depends on the lender, the mortgage insurer and your credit profile.
- Results ignore income tax effects, such as any deduction for mortgage interest or property taxes.
- Interest rates shown are averages or your own entries, not a rate quote or lock.
Keep going
Educational only: The calculators and information on this website are for educational and illustrative purposes only. Results are estimates based on the information and assumptions entered and are not a loan offer, commitment to lend, financial advice or guarantee of eligibility, rates, costs or savings. Actual loan terms, rates, fees, mortgage insurance and qualification requirements vary by borrower, property, lender and loan program. Speak with a licensed mortgage professional for personalized information.