Resources
Calculators
Calculate your monthly mortgage payment and discover how extra payments can save you thousands.
Calculate Your Costs
Home Purchase
Calculator.
Estimate your monthly payment and see how the employee benefit impacts your affordability
Property tax varies by state
Min down: 5%
$350K
20.0% ($70,000)
Rate: 6.50%
Est. APR: 6.462%
Auto-calculated based on 0.64% state rate
Auto-calculated based on 0.6% of home value
Estimated Monthly Payment
$2,131
Property Tax and Insurance are estimates only
Loan Amount
$280,000
Total Interest (without extra payments)
$357,125
Making One Extra Payment Per Year
By paying just $1,769.79 extra annually (1/12 of $1,769.79 each month), you could:
Pay Off Your Loan In:
24.2 years
Save Time:
6 years earlier
Save Interest:
$81,439
Important Disclosures
Estimates Only - Not a Loan Commitment: This calculator provides estimates for educational and planning purposes only. Results are not a loan commitment, pre-qualification, or pre-approval. Actual monthly payment amounts will vary based on your specific loan terms, credit score, property location, credit history, employment, and other factors determined during the loan underwriting process.
APR Disclosure: Rates shown are interest rate estimates only. The Annual Percentage Rate (APR) will be higher and will depend on loan amount, credit profile, loan-to-value ratio, property type, and other underwriting factors. Contact ReNew Lending for a personalized APR quote.
Interest Rates & Terms: Rates, fees, and terms are subject to change without notice and may vary by loan program, borrower qualifications, and market conditions. Rates shown are estimates only and do not constitute an offer to lend or extend credit. All loans subject to credit approval and underwriting review.
Mortgage Insurance (MI): The calculator includes estimated mortgage insurance premiums (MIP for FHA loans or PMI for conventional loans). Actual insurance costs depend on your loan-to-value ratio, loan amount, property type, and other underwriting factors.
Property Taxes & Insurance: Estimated property taxes are calculated using average state rates and may not reflect your actual property tax liability. Homeowners insurance estimates are averages and will vary by property, location, and coverage. Actual amounts should be confirmed with your county assessor and insurance agent.
HOA & Additional Costs: This calculator includes HOA fees if entered, but does not account for other potential homeownership costs such as utilities, maintenance, repairs, special assessments, or HOA special fees.
For Professional Guidance: Please contact a qualified ReNew Lending loan officer for personalized estimates, loan product options, and pre-qualification details based on your complete financial situation.
Refinance Analysis
Refinance
Calculator.
See if you can benefit from refinancing your mortgage with employee discounts
Have an FHA or VA Loan?
You may qualify for a Streamline Refinance—often with no appraisal, minimal documentation, and a faster closing.
Do NOT include taxes and insurance
Enter 0 if not taking cash out
⚠️ Proposed amount exceeds maximum allowed. Loan amount capped at max.
New Loan Amount
$240,000
New P&I Payment
$1,216
Payment Difference
-$784/mo
"Break-Even" Point
4 months
Time to recover closing costs
Est. Lifetime Savings
$279,224
To calculate your refinancing results, we use information about your current home loan and details of the new loan to estimate potential savings.
Understanding the Metrics:
- Break-Even Point: How long it'll take for the amount you will save to outweigh the closing costs.
- Payment Difference: The monthly savings (or increase) in your principal and interest payment.
- Lifetime Savings: The estimated total amount you'll save on interest over the life of your new loan, minus closing costs.
Estimates Only - Not a Loan Commitment: This calculator is offered for illustrative and educational purposes only and is not intended to replace a professional estimate. Results are not a loan commitment, pre-qualification, or pre-approval. Calculator results do not reflect all loan types and are subject to individual program loan limits.
APR Disclosure: Interest rates shown are estimates only. The Annual Percentage Rate (APR) will be higher and will depend on loan amount, credit profile, closing costs, and other factors. Contact ReNew Lending for a personalized APR quote based on your specific situation.
No Guarantee: All calculations and costs are estimates. ReNew Lending does not make any guarantee or warranty (express or implied) that all possible costs have been included. Actual rates, terms, and savings subject to credit approval and underwriting.
Ready to Explore Your Savings?
Your dedicated concierge is ready to walk you through your options with no pressure.