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    Conventional Loan Calculator

    Estimate your monthly payment with flexible down payment options
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    Conventional Loan Calculator

    Calculate Your Conventional Loan Payment

    Estimate your monthly payment with flexible down payment options and competitive rates

    * These calculations are estimates only. Actual payments may vary based on your specific situation and current market conditions.

    Quick Answer

    How a Conventional Payment Is Built

    A conventional payment is principal and interest, taxes, insurance, and — only if you put down less than 20% — private mortgage insurance. Unlike FHA, PMI is cancellable: request removal at 80% loan-to-value, and it drops automatically at 78%. PMI is also credit-priced, so the same 5% down payment costs very different amounts at a 660 score versus a 760 score.

    Conventional financing fits buyers with solid credit, second homes, and investment properties — none of which VA or FHA will finance. It is also the loan to compare against when you are deciding whether to use your VA entitlement now or save it for a later purchase.

    What This Calculator Accounts For

    The Numbers That Move Your Payment

    Cancellable PMI

    PMI ends at 80% LTV on request and automatically at 78%, so a conventional payment shrinks over time in a way an FHA payment does not.

    Credit-tiered pricing

    Both your rate and your PMI factor move with your score and loan-to-value. A 20-point score improvement can be worth more than a quarter point of rate.

    Down payments from 3% to 20%

    3% down is available to qualifying first-time buyers; 5% is the common floor otherwise. Model several to see where PMI stops being worth avoiding.

    2026 conforming limits

    Above the conforming ceiling the loan becomes a jumbo with different reserve and down payment rules — the payment math changes with it.

    FAQs

    Conventional Calculator Questions

    Quick Answer

    A conventional payment is principal and interest, taxes, insurance, and — only if you put down less than 20% — private mortgage insurance. Unlike FHA, PMI is cancellable: request removal at 80% loan-to-value, and it drops automatically at 78%. PMI is also credit-priced, so the same 5% down payment costs very different amounts at a 660 score versus a 760 score.

    Sometimes. If you are buying an investment property, a second home, or you want to preserve full entitlement for a future purchase, conventional is the right tool. For a primary residence you intend to occupy, VA is usually cheaper because there is no down payment and no monthly mortgage insurance.

    Twenty percent. Below that, PMI applies but is cancellable — many buyers deliberately put less down, invest the difference, and drop PMI once appreciation and principal paydown push them to 80% loan-to-value.

    Add them separately. Many newer San Antonio-area subdivisions carry HOA dues plus MUD or PID assessments that can add well over a hundred dollars a month to the real cost of ownership.

    Yes. Expect a larger down payment, a rate add-on for the occupancy type, and reserve requirements. VA and FHA cannot be used for a property you never intend to occupy.

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    Reviewed by Jonathan Mullins, Founder & Mortgage Loan Originator, NMLS #94015Last updated