Mortgage calculator built to teach.
An educational tool that walks you through how every part of a mortgage payment works. FHA mortgage insurance, VA funding fee tiers, conventional PMI, and county-specific loan limits all built in. Hover the question marks to learn what each input means.
? First time here? Read this 30-second primer. +
A mortgage payment has 4 to 5 parts. We call this PITI plus MI:
- Principal — the amount you borrowed, paid back over the life of the loan
- Interest — what the lender charges to lend you the money
- Taxes — annual property tax, paid monthly through your lender into an escrow account
- Insurance — homeowners insurance, also paid monthly through escrow
- Mortgage Insurance (MI) — only required if you put less than 20% down on a conventional loan, or for any FHA loan
Pick your loan program below, enter your numbers, and the calculator will show you each piece. Hover any ? icon to learn what that field means. When in doubt, leave the defaults and just change the home price and interest rate.
darynfillis.com · myadvisors@neohomeloans.com · 424-396-6967
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Here is what I want you to know.
This number is one version of your future. There are others. The version where you buy this exact home. The version where you wait six months and buy something better. The version where you use equity to wipe out debt first. The version where a 5% down payment with the right strategy beats a 20% down payment by itself. Calculators do not pick between those. Advisors do.
You do not have to know what you want before we talk. You just have to want to talk. Fifteen minutes, no commitment, no hard sell.
This is an educational estimate, not a loan offer or commitment to lend. Your actual monthly payment depends on your finalized interest rate (subject to lock), mortgage insurance factor (varies by lender, credit score, and program), property tax assessment by your county, your specific homeowners insurance quote, and any HOA dues. Final loan terms are determined at lock and disclosed in your Loan Estimate. To get an accurate quote for your situation, contact me directly. NEO Home Loans powered by Better Mortgage Corporation. Equal Housing Opportunity. Branch NMLS #2733710 · 222 Pacific Coast Hwy, 10th Floor, Suite 135, El Segundo, CA 90245.
Important disclaimer
This is an educational estimate, not a loan offer or commitment to lend. Your actual monthly payment depends on your finalized interest rate (subject to lock), mortgage insurance factor (varies by lender, credit score, and program), property tax assessment by your county, your specific homeowners insurance quote, and any HOA dues. Final loan terms are determined at lock and disclosed in your Loan Estimate. To get an accurate quote for your situation, contact me directly. NEO Home Loans powered by Better Mortgage Corporation. Equal Housing Opportunity. Branch NMLS #2733710 · 222 Pacific Coast Hwy, 10th Floor, Suite 135, El Segundo, CA 90245.
Loan programs compared.
The four main loan programs side by side. Use this as a quick reference for which one fits your situation. Limits shown are for Los Angeles County in 2026.
| Feature | Conventional | FHA | VA | Jumbo |
|---|---|---|---|---|
| Min down payment | 3% | 3.5% | 0% | 10-20% |
| Min credit score | 620 | 580 | 580* | 680-720 |
| Mortgage insurance | PMI, drops at 22% equity | MIP for loan life or 11 years | None (funding fee instead) | Varies, often none with 20% down |
| Max loan (LA County 2026) | $1,209,750 | $1,209,750 | No limit with full entitlement | Above $1,209,750 |
| Funding fee / upfront cost | None | 1.75% UFMIP financed | 2.15% first use (can be financed) | None |
| Best for | Strong credit, 5%+ down | First-time buyers, lower credit | Active duty, veterans, spouses | High-value LA homes >$1.2M |
*Many VA lenders set minimums of 620+ even though VA itself has no minimum. LA County loan limits typically update annually each January. Verify current numbers before relying on them for your specific situation.
Here is what I want you to know.
This number is one version of your future. There are others. The version where you buy this exact home. The version where you wait six months and buy something better. The version where you use equity to wipe out debt first. The version where a 5% down payment with the right strategy beats a 20% down payment by itself. Calculators do not pick between those. Advisors do.
You do not have to know what you want before we talk. You just have to want to talk. Fifteen minutes, no commitment, no hard sell.
Want me to verify these numbers for your situation?
A 15-minute call with me converts these estimates into the real numbers for the specific home you are looking at, including the actual mortgage insurance factor, real insurance quote, and county-specific property tax.
Book a 15-minute call