4/15/2024 0 Comments Mortgage down payment calculator![]() Using the blue “Your Down” calculator in the center, select your credit score, select purchase or refinance, add in the home price, followed by your down payment. How to use Down Payment Decisioner calculator Want to learn more about Private Mortgage Insurance? Read " Everything you need to know about PMI", our authoritative guide on the subject. Check HSH's FHA/Low Downpayment Mortgage Comparator tool to see what's available to you! If you can't muster even a 5% down payment, you still have options to get a mortgage. HSH.com's Down Payment Decisioner can help you learn how to best allocate your precious funds. So should you put down less? Should you scrape or beg Mom or Dad for more? What's the benefit or drawback of either choice? It depends, of course, but one thing is clear: no matter how much money you put towards your down payment, making the best choice isn’t easy. What if you could make a smaller down payment and still pay the same MI cost? What if your down payment was just a little more so that you could pay less for MI… and how much more does it need to be? HSH.com’s Down Payment Decisioner Calculator shows you how both a smaller and larger down payment impacts your overall cost. In addition to your down payment, you’ll also need cash to pay points, closing costs and for reserves. If you're like most of us, though, you've probably only got a finite amount of cash to work with. You might not know that the size of your down payment has a direct effect on the cost of your mortgage insurance and when it can be canceled. You probably know that making a large down payment can make your loan simpler to get and less costly to have. Saving money for a down payment is a long slog.
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