Estimate your real monthly payment with taxes, insurance, and mortgage insurance, then see which loan types fit your situation and why. Free and educational. This is not a loan offer or approval.
Today's mortgage rates · updated daily
National average rates by loan type. Not a quote.
Loan type
Average rate
30-year fixedMost common. Lowest payment, most interest over time.
6.71%
15-year fixedHigher payment, far less total interest.
6.29%
FHA 30-yearLow down payment, flexible credit.
6.29%
VA 30-yearEligible military. No down payment, no monthly MI.
6.31%
USDA 30-yearEligible rural areas. No down payment.
6.29%
Jumbo 30-yearAbove conforming loan limits.
6.85%
5/1 ARMFixed for 5 years, then adjusts.
6.29%
Updated August 16, 2026.
Rates shown are daily national averages published by Mortgage News Daily and are provided for general informational purposes only. They are not a rate quote, an offer, or a commitment to lend. Your actual interest rate and APR depend on your credit, loan amount, down payment, property type, occupancy, and other factors, and rates change daily. Not all applicants will qualify.
Your numbers
Every figure is an estimate you can edit. Mortgage insurance, fees, and tax defaults are typical values, not quotes for your loan.
Estimated payment
$0
per month
Amortization schedule
Loan types that may fit you
Ranked from your inputs. These are educational matches, not an approval or advice. A licensed loan officer confirms real eligibility, rates, and costs.
Megan Winslow helps buyers nationwide, across all 50 states, with home purchase, refinance, VA, FHA, USDA, and construction loans. Get a real rate and a clear plan.
Megan Winslow, Mortgage Banker, NMLS# 2692933. The Federal Savings Bank, NMLS# 411500. This is not a commitment to lend. All loans subject to credit approval. Terms and conditions may apply. Property insurance is required on all loans secured by property. Programs, rates, and terms subject to change without notice. Verify licensing at NMLS Consumer Access.
Important disclosures. LoanFitCalc is a free educational tool. It provides estimates only and is not a loan, a loan approval, a commitment to lend, a rate lock, or an offer to make a loan. It does not provide financial, legal, tax, or investment advice, and it does not recommend a specific loan for you. Actual loan availability, interest rates, mortgage insurance, fees, taxes, eligibility, and payments depend on your full application, credit, property, location, and lender underwriting, and will differ from these estimates. Mortgage insurance rates (PMI, FHA MIP), VA funding fees, USDA fees, conforming loan limits, and tax and insurance defaults are typical published figures used for estimation and are subject to change. Loan program eligibility rules (including income and geographic limits for USDA, and military eligibility for VA) are summarized and simplified. Nothing here is guaranteed. Consult a licensed mortgage loan originator and confirm all numbers before making any decision. LoanFitCalc is an independent educational website and is not itself a lender. The mortgage professional featured above is a licensed loan officer; contacting them is optional. ⌂ Equal Housing Opportunity
How LoanFitCalc works
Three quick steps to a real monthly payment.
1. Enter the basics
Home price, down payment, rate, term, taxes, and insurance.
2. See the true payment
We add PMI, FHA MIP, VA and USDA fees, taxes, and insurance, not just principal and interest.
3. Compare loan types
FHA, VA, USDA, Conventional, and Jumbo side by side, with a recommended fit.
Mortgage calculator FAQ
How much house can I afford?
A common guideline is to keep your total monthly housing payment near 28% of your gross monthly income and total debts under about 43%. LoanFitCalc lets you enter price, down payment, rate, taxes, and insurance to see the real payment and test what fits your budget.
What is PMI and when do I pay it?
Private mortgage insurance (PMI) is charged on most conventional loans when your down payment is under 20%. It typically ranges from about 0.3% to 1.5% of the loan per year and usually drops off once you reach 20% equity. The calculator adds PMI automatically based on your down payment and credit tier.
Is an FHA or a conventional loan cheaper?
It depends on your credit and down payment. FHA loans allow lower scores and 3.5% down but carry an upfront and annual mortgage insurance premium that often lasts the life of the loan. Conventional loans need stronger credit but let you cancel PMI at 20% equity. LoanFitCalc shows both side by side so you can compare the true cost.
Do VA loans really require no down payment?
Yes. Eligible veterans, active-duty service members, and some surviving spouses can buy with 0% down and pay no monthly mortgage insurance. There is a one-time VA funding fee, which the calculator includes, and it can be waived for veterans with a service-connected disability.
What credit score do I need to buy a home?
FHA loans can go as low as 580 (or 500 with 10% down), USDA and VA typically look for around 620, and conventional loans usually start near 620 with the best pricing at 740 and above. LoanFitCalc adjusts PMI and program fit based on the credit range you select.
Estimates only. Not a loan offer, approval, or financial advice. Consult a licensed mortgage loan originator. ⌂ Equal Housing Opportunity
