Conventional
Not government-backed, with as little as 3–5% down for many buyers. PMI applies under 20% down and ends automatically as you pay the loan down.
Home Buyer Calculator
What Will Your Monthly Payment Be?
Estimate your full monthly payment and how much home you can comfortably afford in Orlando and Central Florida — with Conventional, FHA, VA and USDA options side by side, plus a full loan payment schedule.
Home Buyer Calculator
Total Monthly Payment
$3,220
Principal, interest, taxes, insurance, PMI, HOA
Where Your Payment Goes
- Principal$327
- Interest$2,138
- Taxes$333
- Insurance$200
- PMI$222
Principal and interest split shown for the first payment.
Loan Amount
$380,000
Amount borrowed
Down Payment
$20,000
Estimated Cash to Close
$32,000
Down payment + closing costs
PMI
$222
Ends month 127 (10 yrs 7 mo)
Principal & Interest
$2,465
Total Interest (full term)
$507,282
Balance · Year 5
$356,728
Equity $43,272
Balance · Year 10
$324,144
Equity $75,856
Equity shown before any change in home value.
Compare Loan Programs
Same price, taxes and insurance — each program at its typical rate on a 30-year term.
| Program | Cash to Close | Monthly Payment |
|---|---|---|
| Conventional 5% down6.75% rate | $32,000 | $3,220 |
| Conventional 10% down6.75% rate | $52,000 | $3,078 |
| Conventional 20% down6.75% rate | $92,000 | $2,609 |
| FHA 3.5% down6.25% rate · Primary residence; county loan limits apply | $26,000 | $3,129 |
| VA 0% down6% rate · Eligible veterans, service members and surviving spouses | $12,000 | $2,983 |
| USDA 0% down6.25% rate · Eligible rural areas and income limits | $12,000 | $3,137 |
FHA, VA and USDA require you to live in the home as your primary residence.
Plain English
Which Loan Is Right for Me?
FHA
Government-insured with 3.5% down and more flexible credit guidelines. Mortgage insurance (MIP) is paid upfront and monthly.
VA
For eligible veterans, service members and surviving spouses, often with 0% down and no monthly mortgage insurance. A one-time funding fee applies unless exempt.
USDA
0% down for homes in eligible areas, within household income limits. It carries a small upfront and annual guarantee fee.
FHA, VA and USDA loans require you to live in the home as your primary residence.
Glossary
PITI
Principal, interest, taxes and insurance — the core parts of a monthly mortgage payment.
PMI
Private mortgage insurance on conventional loans with under 20% down. It protects the lender and drops off once you owe 80% of the original price.
MIP
FHA's mortgage insurance premium, paid upfront (usually financed) and monthly.
Funding Fee
A one-time VA charge, added to the loan, that keeps the program running. Veterans with a service-connected disability are generally exempt.
DTI (Debt-to-Income)
Your monthly debts divided by gross monthly income. Front-end counts housing only; back-end adds all other debts.
Escrow
An account your lender uses to collect part of each payment and pay your property taxes and insurance on your behalf.
These figures are estimates only and are not a loan offer or a commitment to lend. Rates, fees, mortgage insurance and program rules vary by lender and borrower. Please confirm every number with a licensed loan officer.
Next Step
Ready to Get Pre-Approved? Let’s Talk.
Let’s talk through your budget and timeline so you can shop with real numbers from day one.
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