Honor Loan Team
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Mortgage Tools & Calculators
Everything you need to make informed mortgage decisions. All tools are free and require no sign-up.
Loan Program Comparison
Select up to 4 programs to compare side-by-side
| Feature | Conventional | FHA | VA |
|---|---|---|---|
| Min Down Payment | 3% | 3.5% (580+ credit) | 0% |
| Min Credit Score | No minimum* | 500 (10% down) / 580 (3.5%) | No minimum* |
| Max DTI | 45-50% | 43% (56.99% with AUS) | No maximum (residual income) |
| Upfront Fee/MIP | None | 1.75% UFMIP (financeable) | 1.25-3.3% Funding Fee* |
| Monthly MI/Fee | PMI (removable at 80% LTV) | 0.55% annual MIP (life of loan*) | None |
| Max Loan Amount | County limit ($766,550 base) | County limit ($498,257 base) | No limit (with entitlement) |
| Occupancy Types | PrimarySecond HomeInvestment | Primary Only | Primary (some exceptions) |
| Income Verification | Standard (W-2, tax returns) | Standard + Manual UW available | Standard + Residual income |
| Reserves Required | 0-6 months (varies) | 1-3 months (varies) | Not required (varies) |
| Seller Concessions | 3-9% (based on LTV) | Up to 6% | Up to 4% |
| Gift Funds | Allowed (100% at 20%+ down) | Allowed (100%) | Allowed |
| Manual Underwriting | Limited | Yes | Yes |
| Cash-Out Refi | Up to 80% LTV | Up to 80% LTV | Up to 90% LTV |
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* Guidelines shown are general. Credit score minimums may vary by lender overlay. VA funding fee exempt for 10%+ service-connected disability. FHA MIP removable with 10%+ down after 11 years.
How Much Home Can You Afford?
Calculate your maximum home purchase price based on your income and debts
Total household income before taxes
Car payments, student loans, credit cards (minimum payments)
You can afford a home up to
$0
Loan Amount
$0
Monthly Payment
$0
About This Calculator
- Uses standard 28% front-end and 43% back-end DTI ratios
- FHA/VA may allow higher DTI ratios with compensating factors
- Actual approval depends on credit, assets, and full underwriting
- This is an estimate only - get pre-approved for accurate amounts
Closing Cost Estimator
Estimate your total cash needed at closing
$80,000 down
Estimated Closing Costs
$9,055
~2.5% of purchase price
Total Cash to Close
$89,055
Including 20% down payment
Important Notes
- This is an estimate only - actual costs vary by lender and location
- Seller may contribute toward your closing costs (varies by loan type)
- Some costs are negotiable (title services, lender fees)
- Request a Loan Estimate from your lender for exact figures
Frequently Asked Questions
Find answers to common mortgage questions
Ready to Get Started?
Our tools are a great starting point, but nothing beats personalized advice. Talk to one of our loan specialists for guidance tailored to your unique situation.