skip to Main Content
Your Transparent Real-Time Mortgage Rate Marketplace

Connect with the most competitive mortgage lenders both locally and nationally.

Rates are quoted using real-time pricing as the market updates.

Purchase Calculator

What is most important to you?

Current Loan

information
Mortgage Amount

Enter the amount of the actual mortgage after down payment.

information
Interest Rate

Enter the interest rate of the original Mortgage.

information
Loan Term

Enter the number of years of your original Mortgage.

information
Mortgage Start Date

Choose the month and year your original mortgage started.

New Loan

information
Mortgage Amount

Enter your current mortgage balance.

information
Cash Out Amount

Enter the amount of Cash Out you are taking on your new mortgage.

information
Refinancce Costs

Enter the amount of fixed refinance costs (Points/Fees).

information
New Loan Amount

The new loan amount after cash out and refinance costs.

information
Interest Rate

Enter the current Market Rate.

information
Loan Term

Enter the number of years of the Mortgage.

information
Mortgage Start Date

Choose the month and year the new mortgage will start.

information
Include Refinance Costs

Will Refinance costs be included in the new loan?

informationMortgage Information

information
Home Price

Enter the amount of the home's value.

information
Down Payment

Enter the amount or percentage of the down payment.

information
Mortgage Amount

Enter the amount of the actual mortgage after down payment.

information
Interest Rate

Enter the current Market Rate.

information
Loan Term

Choose the number of years of the Mortgage.

information
Mortgage Start Date

Choose the month and year the mortgage will start.

information
PMI Rate

Private Mortgage Insurance (PMI) protects the lender from losing money if you default on the loan. Most mortgages with a down payment of less than 20% require PMI. his is an estimate based on the details above. PMI can vary significantly based on several factors.

Optional Information

information
Home Insurance

Enter the annual amount of insurance.

information
Annual Tax Amount

Enter the annual tax amount.

information
HOA Dues

Enter the annual HOA dues.

informationBuying Assumptions

informationRenting Assumptions

What is most important to you?

Current Loan

information
Mortgage Amount

Enter the amount of the actual mortgage after down payment.

information
Interest Rate

Enter the interest rate of the original Mortgage.

information
Loan Term

Enter the number of years of your original Mortgage.

information
Mortgage Start Date

Choose the month and year your original mortgage started.

New Loan

information
Mortgage Amount

Enter your current mortgage balance.

information
Cash Out Amount

Enter the amount of Cash Out you are taking on your new mortgage.

information
Refinancce Costs

Enter the amount of fixed refinance costs (Points/Fees).

information
New Loan Amount

The new loan amount after cash out and refinance costs.

information
Interest Rate

Enter the current Market Rate.

information
Loan Term

Enter the number of years of the Mortgage.

information
Mortgage Start Date

Choose the month and year the new mortgage will start.

information
Include Refinance Costs

Will Refinance costs be included in the new loan?

Address

information
Property Value or Purchase Price

Enter the property Value or purchase Price.

information
Unit 1 Monthly Rent

Enter the Unit 1 Monthly Rent.

information
Annual Property Taxes

Enter the Annual Property Taxes.

information
Annual Insurance

Enter the Annual Insurance.

information
Monthly HOA Fee

Enter the Monthly HOA Fee.

information
Annual Utilities

Enter the Annual Utilities.

information
Closing Costs

Enter the Closing Costs.

Address

All Payment Total Loan Amount Total Interest Paid

Payment Breakdown

information
Payment Breakdown

A breakdown of your total payment so you can see where money is allocated.

$1,915

per month

  • Principal & Interest
  • Taxes
  • Insurance
  • HOA Dues
  • PMI
  • Extra Payment
  • Monthly Payment
  • Total Payment
  • Home Value:
  • Mortgage Amount:
  • Monthly Principal & Interest:
  • Monthly Extra Payment:
  • Monthly Property Tax:
  • Monthly Home Insurance:
  • Monthly PMI:
  • Monthly HOA Fees:
  • Total # Of Payments:
  • Down Payment:
  • Principal:
  • Total Extra Payment:
  • Total Interest Paid:
  • Total Tax, Insurance, PMI and Fees:
  • Total of all Payments:
Savings Payment Amount Shorten Loan Term By

Early Payoff Strategy

information
Early Payoff Strategy

Add an extra payment and see how many months you can eliminate on the back end of the loan.

Lump Sum Payment

information
Lump Sum Payment

Shorten your loan term by paying a lump sum all to principal.

Monthly Payment Decrease

$

Total Interest Difference

$

Monthly Payment Comparison

information
Payment Breakdown

A breakdown of your total payment so you can see where money is allocated.

Current Loan

$

New Loan

$

Monthly Payment Difference

$
Refinance Costs

$

Time to Recoup Fees

Total Interest Comparison

information
Payment Breakdown

A breakdown of your total payment so you can see where money is allocated.

Current Loan Remaining Interest

$

New Loan Interest

$

Total Interest Difference

$
Years 1 years

Results Summary

information
Buying Renting
Cash Spent $ $
Home value -$ --
Balance on Loan $ --
Closing costs on sale $ --
Adjusted Net Cash Savings $ $

Rent

$

Buy

$556
YEAR

2

BUY GAIN

$43,244

BUY

$43,244

RENT

$43,244

Out of Pocket Cost:If you opt for homeownership of a property valued at $, your total expenses out of your pocket for 2 years would add up to $. However, if you choose to rent instead, your overall expenditure would come to $, thus saving you $ (which also covers the down payment you would have otherwise made).
Financial Gain:After 2 years, if you choose to purchase the property, the value of equity in your home would be $, which you can access upon selling it.
Summary:Based on the overall expenses incurred and the equity gained, it would be more advantageous for you to buy the property instead of renting, provided you intend to reside in the house for more than 2 years.
All Payment Total Loan Amount Total Interest Paid

Payment Breakdown

information
Payment Breakdown

A breakdown of your total payment so you can see where money is allocated.

$1,915

per month

  • Principal & Interest
  • Taxes
  • Insurance
  • HOA Dues
  • Extra Payment
  • Monthly Payment
  • Total Payment
  • Home Value:
  • Mortgage Amount:
  • Monthly Principal & Interest:
  • Monthly Extra Payment:
  • Monthly Property Tax:
  • Monthly Home Insurance:
  • Monthly HOA Fees:
  • Total # Of Payments:
  • Down Payment:
  • Principal:
  • Total Extra Payment:
  • Total Interest Paid:
  • Total Tax, Insurance and Fees:
  • Total of all Payments:
Savings Payment Amount Shorten Loan Term By

Early Payoff Strategy

information
Early Payoff Strategy

Add an extra payment and see how many months you can eliminate on the back end of the loan.

Lump Sum Payment

information
Lump Sum Payment

Shorten your loan term by paying a lump sum all to principal.

Monthly Payment Decrease

$

Total Interest Difference

$

Monthly Payment Comparison

information
Monthly Payment Comparison

A breakdown of your total payment so you can see where money is allocated.

Current Loan

$

New Loan

$

Monthly Payment Difference

$
Refinance Costs

$

Time to Recoup Fees

Total Interest Comparison

information
Total Interest Comparison

A breakdown of your total payment so you can see where money is allocated.

Current Loan Remaining Interest

$

New Loan Interest

$

Total Interest Difference

$
Cash Flow

$

Cap Rate

%

Deal Breakdown

information
Deal Breakdown

A breakdown of your rental loan deal.

  • Loan Amount:
  • Down Payment:
  • Mortgage Payment:
  • Monthly Payment:
  • Origination Fee Amount:

Deal Metrics

information
Deal Metrics

A metrics of your rental loan deal.

  • Total Closing Costs:
  • Cash Needed to Close:
  • Price Per Unit:
  • Gross Rental Income:
  • Operating Expenses:
  • Net Operating Income:
Cash on Cash Return

%

DSCR

Return Metrics

information
Deal Metrics

A metrics of your rental loan return.

  • Cash Flow:
    Annual cash flow after all expenses and mortgage are paid.
  • Cap Rate:
    Cap rate, or capitalization rate, is a metric that divides your net operating income (not including your mortgage) by the purchase price or property value. It is most useful in comparing multifamily properties.
  • Cash on Cash Return:
    Cash on cash return is a metric that divides your pre-tax cash flow by the total cash invested in the deal. This is a key metric for most investors.
  • DSCR:
    DSCR calculates the ratio of rental income to your mortgage payment. Ideally, you'll have a DSCR of 1.0 or higher. First Equity CAN finance rental properties at DSCRs lower than 1.0 (negative cashflow).
Borrower Equity Needed

$

Net Profit

$

Deal Breakdown

information
Deal Breakdown

A breakdown of your rental loan deal.

  • Loan Amount:
  • Down Payment:
  • Monthly Interest Payment:
  • Total Interest Over Term:
  • Origination Fee Amount:
  • Other Closing Costs Amount:
  • Cost To Sell Amount:

Deal Metrics

information
Deal Metrics

A metrics of your rental loan deal.

  • Closing Costs:
  • Carrying Costs:
  • Borrower Equity Needed:
  • Total Cash In Deal:
Return on Investment

%

Loan to After Repaired Value

%

Return Metrics

information
Deal Metrics

A metrics of your rental loan return.

  • Net Profit:
  • Loan to After Repaired Value:
  • ROI:
Couple holding key
Reasons to love our lending marketplace:
Shop rates incognito and anonymously
Hundreds of lenders competing for your business
Both National and Local Lenders
Real-time rates and fees as the market shifts
Connect on your terms
Shop credit cards, HELOCs, and personal loans

We’re  partnered with Bankrate to provide great offers and competitive rates

woman using a computer
Find your next lender

Whether you are a first time homebuyer or an experienced real estate investor, Finding the best rate and low fees is crucial.

With hundreds of lenders in our marketplace network all competing for your business, we’re confident that you’ll find some of the lowest rates available today.

Get financially fit for homeownership and mortgage ready with our free LoanReady mobile app.

  • Monitor Your Credit
  • Track Bank Accounts
  • Determine Mortgage Readiness
  • Track Your Home Value
  • And more!

 

Download the LenderCity App for free (Use code LendCity)

Fresh from The Blog.
Designing a Home Office: 6 Ideas for Productivity & Comfort

Designing a Home Office: 6 Ideas for Productivity & Comfort

he shift towards remote work has underscored the importance of having a dedicated and well-thought-out…

2024 Home Design Trends: The Future of Living Spaces

2024 Home Design Trends: The Future of Living Spaces

As we move further into the decade, the evolution of home design continues to captivate…

Maximizing Your Home’s Curb Appeal: 6 Top Tips for Sellers

Maximizing Your Home’s Curb Appeal: 6 Top Tips for Sellers

When it comes to selling your home, first impressions are everything. Curb appeal—the attractiveness of…

Back To Top