Best Mortgage Calculator
& Debt-To-Income Ratio Calculator
powered by Alex Carlucci
  • Conventional
  • FHA
  • VA
  • Jumbo/Non Qm

*This is an estimate and varies based on credit score.
Total Monthly Payment
Principal and Interest:
Property Tax:
Homeowners Insurance:
Est Total Payment:


Total Monthly Payment
Principal and Interest:
Property Tax:
Homeowners Insurance:
Est Total Payment:


Total Monthly Payment
Principal and Interest:
Property Tax:
Homeowners Insurance:
Est Total Payment:


Total Monthly Payment
Principal and Interest:
Property Tax:
Homeowners Insurance:
Est Total Payment:


Debt to Income Calculator

Car payment, minimum credit card payments, student loan monthly payments, child support, etc. Not utility bills or rent.
Front Ratio
Back Ratio

How To Use The Best Mortgage Calculator Powered By GCA

This best mortgage calculator powered by Gustan Cho Associates is the best mortgage approval calculator designed and created by Alex Carlucci at Gustan Cho Associates because of a need to have a comprehensive accurate housing payment calculator. Most mortgage online calculators in the market only give you principal and interest and not the overall estimated total monthly housing payment. What good is it if you do not know your total housing payment and only know part of it?

How Much House You Can Get Can Depend on Property Taxes

The estimated monthly housing payment can differ by wide margins depending on property taxes, monthly homeowners association fees (HOA), and homeowners insurance. Many months of intensive teamwork among the team at GCA Mortgage and our engineers, programmers, coders, and designers went to perfecting and launching The Best Mortgage Calculator. Alex Carlucci and his associates at Gustan Cho Associates named it the BEST because he and his team wanted to live up to its name with the BEST Mortgage Calculator.

The Best Mortgage Approval Calculator With PITI, PMI, HOA, DTI

GCAs Best Mortgage Calculator was created, developed, and launched because there were no other online mortgage calculators that were accurate. Other mortgage calculators will not give you the total overall monthly housing payment which is the PITI (principal, interest, taxes, homeowners insurance, private mortgage insurance, and/or mortgage insurance premium (PMI/MIP), and HOA if applicable. The calculator is user-friendly and gets you the most accurate PITI, MIP/PMI, and HOA. As an added feature, GCAs Best Mortgage Calculator has a debt-to-income ratio mortgage calculator that will calculate the front-end and back-end DTI in seconds after you get your housing payment data. It is user-friendly where you can get results in a matter of seconds.

DTI Mortgage Calculator With Front-End and Back-End Debt to Income Ratio

GCAs Best Mortgage Calculator has an added feature where users can calculate their front-end and back-end debt-to-income ratio. During the home shopping process, homebuyers will run into situations where property taxes vary widely for each individual home. Borrowers with higher debt to income ratios no longer have to contact their loan officers several times daily to see if they still qualify for a mortgage on a particular home due to DTI. As long as the homebuyer knows the maximum front-end and back-end debt to income ratio for the mortgage loan program they are applying for, they can easily calculate the front-end and back-end DTI in seconds using the Best Mortgage Calculator.

Mortgage Payment With Taxes and Insurance

GCAs Best Mortgage Approval Calculator is the only mortgage calculator which will give you the most accurate estimated monthly housing payment in seconds. It is user-friendly, accurate, and super fast. Most online mortgage calculators will only give you principal and interest. The GCA Mortgage Calculator powered by Gustan Cho Associates will calculate the most accurate estimated PITI (principal, interest, taxes, insurance), PMI or MIP, HOA, and front and back end debt to income ratio. The best mortgage calculator gives you an added advantage over the competition and has a debt-to-income ratio mortgage calculator.

Are Online Mortgage Calculators Accurate?

GCAs Best Mortgage Calculator was created and launched for our borrowers at Gustan Cho Associates. This Best Mortgage Approval Calculator is not just a hit with our borrowers at Gustan Cho Associates, but loan officers and realtors.  Not only is every licensed loan officer at Gustan Cho Associates using GCAs Best Mortgage Calculator, but we are getting hundreds of requests from loan officers from other mortgage companies as well as real estate agents from all 50 states to see if we give them permission to white label GCAs Best Mortgage Calculator to their brand. We are more than happy to allow other loan officers, mortgage lenders, and realtors to use our calculator and white label it for them.

Mortgage Based on Monthly Payment

GCAs best mortgage calculator will give you the most accurate estimated housing payment. The best mortgage approval calculator will total up the PITI, PMI/MIP, and homeowners association dues if applicable. It will help you find the most estimated total cost of homeownership at today’s mortgage rates. You should adjust the default values of the best mortgage calculator, including mortgage rate and length of the loan, to reflect your current situation. There are creative ways of lowering your total monthly housing payments. Buying down rates with discount points will get you a lower interest rate. A larger down payment will lower your loan amount whereas your monthly housing payment will be lower.

How You Can Use GCAs Best Mortgage Calculator?

GCAs Best Mortgage Approval Calculator lets borrowers enter data and get an accurate estimated housing payment in a matter of seconds. It is so easy to use. Homebuyers can now get the most accurate estimate of mortgage payment with taxes and insurance and NOT just principal and interest. Just enter the loan amount, interest rate, HOA fees if any, property taxes, and estimated homeowners insurance as well as the amortization term (15 years vs 30 years) and the type of mortgage loan program (FHA, VA, Conventional, Jumbo, Non-QM). Within seconds, you get the most comprehensive estimated accurate payment amount.

Do I Qualify For A Mortgage?

The Best Mortgage Calculator can be helpful in estimating the budget for your home purchase. The Best Mortgage Calculator will itemize your principal, interest, taxes, and insurance as well as private mortgage insurance, and HOA if applicable. Gustan Cho Associates has created, developed, and launched the Debt-to-Income Ratio Mortgage Calculator for our borrowers. GCAs debt-to-income mortgage calculator has settings for the following:

  1. FHA DTI Mortgage Calculator
  2. VA DTI Mortgage Calculator
  3. Conventional DTI Mortgage Calculator
  4. Jumbo DTI Mortgage Calculator
  5. Non-QM DTI Mortgage Calculator

House Mortgage Calculator With Taxes

Your estimated housing payment can change greatly depending on the amount of property tax of the subject property. To calculate the minimum monthly mortgage payment, most online mortgage calculators are not accurate. You need a house mortgage calculator with taxes and insurance. Online calculators normally give you principal and interest and leave PMI/MIP, homeowners insurance, property taxes, and HOA fees. Just leaving the property taxes out is a huge discrepancy in the estimated monthly mortgage payment.

Accurate Mortgage Calculator With Taxes and Insurance and PMI

Most borrowers try to figure out the most accurate estimated mortgage payment with taxes and insurance so they know what their minimum monthly mortgage payment will be. They only get the principal and interest with most mortgage calculators. Borrowers then use a separate worksheet to manually calculate the property tax, insurance, private mortgage insurance, and HOAs if applicable. This can be time-consuming and anyone can easily make a mistake. With GCAs best mortgage calculator, you can enter your data and get the most accurate monthly mortgage payment you will actually have.

What Makes GCAs House Payment Calculator With PITI, PMI, HOA, DTI The Best Mortgage Calculator

Mortgage calculator definitions

Buying a home involves more than just a down payment. Your total mortgage costs include repaying the home loan with principal and interest, plus paying for monthly fees like property taxes and home insurance. Most online mortgage calculators will only give the principal and interest. Gustan Cho Associates named our BEST MORTGAGE CALCULATOR because we wanted to be the BEST user-friendly online mortgage calculator in the marketplace. Online calculators need to be user-friendly, accurate, and include all of the components that make up the total monthly housing payment. What good is a good-looking calculator with fancy infographics, graphs, and charts if you only get the principal and interest? As you experiment with the mortgage calculator, be sure you understand each term so you can enter accurate data and get precise answers.

How To Use The Best Mortgage Calculator | PITI, PMI or MIP, HOA, DTI

We will explain every aspect of the data required on the best mortgage calculator so borrowers fully understand how your housing payment and debt to income ratio are calculated. The Best Mortgage Calculator powered by Gustan Cho Associates has FHA, VA, Conventional Loan, Jumbo Loans, and Non-QM Loan calculations which are on top of the mortgage calculator. Already has the mortgage insurance per program and an estimated average of the private mortgage insurance factor. Boxes that have default numbers can easily be populated manually with your own numbers.  In the paragraphs below, we will walk you through the steps on how do you calculate to buy a house.

What Determines The Home Purchase Price of a Home

The homebuyers and sellers may go back and forth on what the final home purchase price will be. Both buyers’ and sellers’ real estate agents will give their input on whether or not the price is a good price to offer and/or to accept. Eventually, the final price mutually agreed upon by both the buyers and sellers determine the final purchase price that will be used. Using the best mortgage calculator, the first data you enter is the net home purchase price on the real estate contract. The list price of the home is not significant in calculating your monthly housing payment. The actual number is the final number negotiated between the homebuyer and the home seller. The down payment and the home appraisal will be going off on the final home purchase price on the real estate contract.

How Mortgage Lenders Calculate Mortgage Rates For Borrowers

The second step is for you to enter the estimated mortgage rate. Until you lock your loan, you will not know the exact rate you will get confirmed. Mortgage rates can be volatile daily. You can either estimate a tentative mortgage rate or contact your loan officer. Or you can contact us at Gustan Cho Associates and speak with one of our licensed loan officers at 1-800-900-8569 or email us at [email protected]

How Property Taxes Affect Housing Payment and DTI | State Mortgage Calculators

Every state has different variants in property tax rates. Hawaii has the lowest property taxes. New Jersey has the highest property tax rates. Within the state, property tax rates are different depending on each county. Property tax rates can greatly affect your monthly housing payments. The team at Gustan Cho Associates is available 7 days a week, on evenings, weekends, and holidays. Gustan Cho Associates is licensed in 48 states including Washington DC and Puerto Rico (Not Licensed in MA, NY).

What Determines Mortgage Rates For Homebuyers?

Mortgage rates are dependent on the particular mortgage loan program, loan to value, type of property, and most importantly, the borrower’s credit scores. The best mortgage calculator will use the mortgage rate you enter to determine the principal and interest in your overall monthly housing payment. On fixed-rate mortgages, the principal and interest will stay the same for the duration of the loan. Your total monthly housing payment may change depending on homeowners insurance, PMI/MIP, HOA, and property taxes.

How The Down Payment on Home Purchase Affects Monthly Payment and DTI

All mortgage loan programs require a down payment on a home purchase. The only two mortgage loan programs that do not require a down payment are VA and USDA loans. When using the best mortgage calculator, the first you enter is a mortgage loan program with the mortgage loan you are applying for.

How Much Down Payment Do I Need To Buy a House?

All the loan programs have their own lending requirements on the down payment, mortgage insurance, and debt to income ratio caps. The down payment on the VA loan part of the calculator is set at 0% down payment. However, users can manually enter any changes to the default number that automatically populates. On conventional loans, there will be private mortgage insurance for homebuyers with less than a 20% down payment. The best mortgage calculator has the average PMI on conventional loans populated. Users can enter a different number if they know a closer estimate of their PMI.

Mortgage Loan Term Affects Your Monthly Housing Payment and DTI

The next step is to enter the term of the mortgage loan. The 30-year fixed-rate mortgage amortization schedule is populated on the calculator but users can manually change the loan term. The loan term options are 5, 10,15,20,25,30 years. The shorter the term of the mortgage loan, the higher the monthly housing payment. The shorter the term of the mortgage, the less interest expense you will pay. The most common mortgage loan term is a 30-year-fixed rate mortgage.

Price of Homeowners Insurance Affects Your Monthly Payment and DTI

All homes financed with a mortgage lender are required to have hazard insurance, also called homeowners insurance. In the event of a fire or other disaster, the lender wants to make sure their collateral is protected. Borrowers choose which homeowners insurance they want to go with. Homeowner’s insurance premiums vary greatly from one insurance carrier to another. It is best to shop for the best homeowners premium. You can get the same coverage with one insurance company as another with the same coverage. Package discounts are offered by insurance companies for consolidating all of your insurance needs such as homeowners, auto, and other insurance into one master policy.

Property Taxes Can Greatly Affect Your PITI and DTI

Property taxes also called real estate taxes, vary from state to state, county to county, as well as the municipality.  Property taxes can widely vary between two very similar properties. The state with the lowest property tax rate in Hawaii. The state with the higher property tax rate is New Jersey. Billing statements on property taxes depend on the municipality and/or county. Normally, property taxes are due two annually. The time they are due again depends on the county the home is. All government loan programs require lenders to escrow property taxes and homeowners insurance on a separate account. Lenders will open a reserve account on behalf of the borrowers and take an estimated amount each month for escrowing property taxes and homeowners insurance.

Escrow Accounts Requirement by Mortgage Lenders

Escrow accounts are separate accounts set up by the mortgage servicer for the purpose of using the account to pay the homeowner’s insurance and property taxes. The funds in the escrow accounts belong to the borrower. Escrow accounts are required on all government-backed loan programs (FHA, VA, USDA loans). Fannie Mae and Freddie Mac require escrow accounts on conventional loans only if the borrower has a greater than 80% loan-to-value and/or less than a 20% down payment on a home purchase.

When Are Escrow Accounts Exempt by Mortgage Lenders?

For conventional loan borrowers with a 20% down payment or greater and/or homeowners with less than 80% LTV, escrow accounts are optional but not mandatory. Many homeowners opt for escrow accounts so the property taxes and homeowners insurance for the property is not overlooked and always paid for on time. Many prefer to pay the property taxes and homeowners insurance premiums in advance into the escrow accounts than come up with a large payment all at once when the property taxes and homeowners insurance is due. Your escrow account is somewhat of a bank account held by the mortgage servicer to pay your homeowner’s insurance premium, property taxes, and/or homeowners association fees if applicable.

How Do Homeowners Association (HOA) Dues Impact Your Debt-to-Income Ratio

Not all homes belong to a homeowners association (HOA). For homebuyers with HOA dues, the Best Mortgage Calculator Powered by Gustan Cho Associates has a section on the calculator. Just enter the HOA dues on the HOA box and it will be included in your housing payment. Homes in a subdivision, planned urban development (PUD) which are normally townhomes, and condominiums belong to a homeowners association, often referred to as HOA.

How Does a Homeowners Association Work

The Homeowners Association pays for general maintenance, landscaping, snow plowing, upkeep of public areas, pool maintenance, and general expenses. The costs to pay for services are paid by all homeowners of the community through the homeowners association. A homeowners association consists of homeowners elected by residents in the housing community. Members of the HOA decide on the budget, accounting, and what the homeowners of the HOA community need to pay for the services required in the housing community. Homeowners Association dues are paid by homeowners. HOA dues can be paid monthly, quarterly, semi-annually, or annually.  The HOA forms a management company that acts as a private taxing body of the home community and requires all homeowners in the community to pay the dues.

Mortgage Insurance (PMI) Guidelines on Conventional Loans

Mortgage insurance is required by lenders to protect the lender’s interest in the event the borrower defaults on their home loan. Private mortgage insurance partially covers lenders in the event the house goings into foreclosure. For example, if a homebuyer buys a $200,00 home with a 3% down payment with a conventional loan and the borrower defaults on the home loan, at the end of the day, the lender can only get $160,000 after it is foreclosed.

What Does PMI Cover and How Does PMI Work?

Private mortgage insurance covers the lender on part and/or all of the $40,000 loss due to the foreclosure. The 3% down payment or $6,000 of $200,000 is not even close to the $40,000 loss due to the foreclosure. Due to the small down payment of the homebuyers and not enough equity in the event of foreclosure, private mortgage insurance is mandatory for conventional loans with less than a 20% down payment. Private mortgage insurance on conventional loans can be canceled once the borrower’s equity on the home is at least 20% or 80% loan-to-value. The private mortgage insurance on the best mortgage calculator has a default PMI where it is average and not 100% spot on. To get an accurate figure on PMI, contact your loan officer.PMI can vary based on the borrower’s credit, LTV, DTI, and other credit risk factors.

Mortgage Insurance Premium (MIP) Requirement for Government Loans

Mortgage insurance premium  (PMI) applies to government-backed loans, primarily FHA and USDA loans. PMI operates the same way as private mortgage insurance on conventional loans. HUD, the parent of FHA loans, has a one-time upfront FHA mortgage insurance premium of 1,75% of the FHA mortgage loan balance which is rolled into the balance of the FHA loan. The second type of mortgage insurance premium is the FHA annual mortgage loan insurance premium (FHA MIP) which is divided into 12 months and included as part of your monthly mortgage payment.

When Can Private Mortgage Insurance Be Canceled?

You cannot cancel FHA annual mortgage insurance premium on a 30-year-fixed rate mortgage no matter how low your loan to value is. The annual FHA MIP is a fixed 0.85% on a 30-year fixed-rate mortgage for the life of the loan. The FHA MIP is lower on borrowers who put a 10% or higher down payment or homebuyers. The best mortgage calculator has the FHA mortgage insurance premiums already populated so it makes your calculations simple and easier to use.

How Do Mortgage Underwriters Calculate Annual Income of Borrowers

The only income lenders can use is documented income such as W2 income, adjusted gross income from income tax returns, K-1 distributions, social security, and retirement income. 1099 income can be used after deductions from income tax deductions. Child support income, disability income, alimony income, and royalty income can only be used if the income will be continuing for the next three years. Non-reported income such as cash income cannot be used as qualified income. When using the best mortgage calculator, enter your gross monthly before-tax income. Lenders use gross income and not the net income as their qualified income.

How Are Monthly Debts Calculated For Debt-To-Income Ratio

Your total monthly debts are required to compare to your gross monthly income in calculating your debt-to-income ratio. On the debt-to-income ratio mortgage calculator, the box stating to enter monthly minimum monthly debts means the following. The monthly debts required are debts from creditors that report to all three credit reporting agencies. Debts that do not report on the three major credit bureaus are not counted towards DTI calculations. Debts that do not report on all three credit bureaus such as utilities, cell phone, auto insurance, health insurance, educational monthly payments, and other non-traditional creditors are not used for DTI calculations for a mortgage.

What Type of Debts Do Mortgage Underwriters Use To Calculate Debt-To-Income Ratio 

Debts included to calculate your debt-to-income ratio are the following:

  1. Minimum credit payments of all credit cards
  2. Auto payments and/or lease payments on all vehicles under your name including auto payments you have co-signed
  3. Minimum student loan payments
  4. Child support payments and/or alimony payments
  5. Minimum monthly payments on installment loan payments

How Collection Accounts Affect Debt-to-Income Ratio For Mortgage

Borrowers are not required to pay unpaid outstanding collection accounts and/or charged-off accounts. However, if you have non-medical collection accounts with at least a $2,000 unpaid balance, you need to take 5% of the outstanding balance and use it as a hypothetical debt and use it towards your debt-to-income ratio calculations. This holds true even though you do not have to pay anything.

Are Collections Accounts Used For Debt-to-Income Ratio by Mortgage Lenders?

Charged-off accounts and medical collections are exempt from the 5% collections rule. If you have a written payment agreement with creditors on non-medical collections, you can use the minimum monthly payment agreement with the creditor versus the 5% of the outstanding collection amount. Any installment loans and car loans that will be paid in 10 months or less are exempt from debt to income ratio calculations. Auto lease payments with less than 10 months before it expires are not included in being an exemption.

How Mortgage Underwriters Calculate Debt-To-Income Ratio

Debt-To-Income ratio
There are two types of debt-to-income ratios. The front-end debt to income ratio, also called the housing ratio, is your total monthly housing payment divided by your gross monthly pre-taxed income. Your back-end debt-to-income ratio is calculated by adding your housing payment plus the sum of all of your monthly minimum payments and dividing it by your monthly gross pre-taxed income.

The Total Monthly Housing Payment on New Home Purchase

Most online mortgage calculators just get you the principal and interest. They do not take property taxes, private mortgage insurance and/or mortgage insurance premium, homeowners insurance, and homeowners insurance dues. The best mortgage calculator gives you the most accurate monthly housing payment. Your principal and insurance will always stay the same throughout the term of the loan. Your housing payments may change depending on how much the property taxes and/or homeowners insurance will go up and/or down. Borrowers with adjustable-rate mortgages will have their housing payments change if any components of their mortgage change.

What Does Mortgage Amortization Mean?

One of the most frequently asked questions from our borrowers at Gustan Cho Associates is what does mortgage amortization mean?
Mortgage amortization is the period of time it takes to pay a home mortgage off in full with a fixed monthly constant payment schedule consisting of principal and interest. The amortization on a mortgage loan is based on the amount of the loan, interest rate, and the term of the loan. The down payment and interest rate depend on how much your estimated principal and interest will be. The property taxes and homeowners insurance will determine what your total estimated monthly housing payment will be.  Amortization refers to the term of the mortgage loan Most traditional conforming loans have a 30-year fixed-rate mortgage loan payment schedule. However, there are 5, 10, 20, and 25-year amortization schedules.

Principal and Interest (PI) Portion of The Mortgage Loan Balance

The mortgage payment schedule consists of principal and interest. The principal balance is the amount of the borrower’s loan balance. The principal portion of the monthly mortgage payment is what gets applied to pay down the principal loan balance. The interest portion of your monthly mortgage payment is the cost of borrowing money from the lender. Interest is the cost of borrowing money and that is how mortgage lenders make money.

How Your Home Mortgage Gets Paid Off in Full

As you pay down the principal loan balance, the interest expense will be less and less. Interest is an expense and you will never see that money back. The amount of principal paid down each month lowers the overall mortgage loan balance until the borrower has paid the entire loan balance. Every time you pay toward the principal balance of the mortgage loan, your home equity increases. With a combination of a lower principal balance plus the appreciation of your home due to the skyrocketing costs of homes, homeowners are doing great with the appreciation of their homes.

How Owning a Home Is The Best and Safest Investment

If the value of your home drops, your equity gets lowered but your principal balance stays the same. On the flip side, if the value of your home increases, not only is your equity increased by you paying down the principal but doubling up with the value of your home increasing Prices of homes have always gone up in value. A house is not just an investment but the only investment that the investor (the homeowner) needs it and utilizes daily. Homebuyers who have purchased homes in the past few years have a lot of equity in their homes due to double-digit appreciation of their homes. Many homeowners that purchased homes in the past few years are eligible to do a cash-out refinance mortgage.

Check  Your Mortgage Eligibility With The Best Mortgage Calculator With PITI, PMI, MIP, HOA, and DTI

Using the best mortgage calculator powered by Gustan Cho Associates will get you the best estimated monthly housing payments than any online mortgage calculator today. Enter the top loan program first so the default PMI, MIP, or VA funding fee on VA loans populates. The best mortgage calculator will yield the principal, interest, property taxes, and insurance (PITI), private mortgage insurance (PMI) and/or mortgage insurance premium (MIP), and homeowners insurance due if applicable.  Once you get the housing payment, you can easily calculate your debt-to-income ratio (DTI) in a matter of seconds by entering your monthly debts and gross income.

Please click here to get approved for a loan

Below are links to state mortgage calculators powered by Gustan Cho Associates. Select a state and you can get the most accurate monthly housing payments consisting of PITI, MIP, PMI, and HOA. You can also calculate the front-end and back-end debt-to-income ratio. The state mortgage calculators will also give your specific important information and data about the state and other information that you may find useful.

Georgia | Alaska | Arizona | Nebraska | Washington DC | Virginia | Hawaii | Connecticut | Delaware | Florida | Iowa | Massachusetts | Minnesota | Missouri | New Jersey | Pennsylvania | Oregon | South Carolina | Wisconsin | Montana | Colorado | Illinois | Kentucky | Delaware | Maine | Michigan | New Mexico | Nevada | North Carolina | Tennessee | Arkansas | Vermont | Virginia | Washington | Mississippi | Louisiana | Oklahoma | Kansas | Indiana | West Virginia | California | Idaho | Rhode Island | Texas | Wyoming | Ohio | Puerto Rico |