Real Estate Mortgage Tools and Rate Estimates
Estimate your monthly payment, compare loan types, and understand the real cost of buying a home with the Homexa™ mortgage calculator. Get connected with trusted local lenders who offer programs for every buyer situation.
Understanding your mortgage options
Conventional loans
Conventional loans are not backed by a government agency and typically require 3 to 20% down. They offer competitive rates for buyers with good credit and stable income.
FHA loans
FHA loans are backed by the Federal Housing Administration and allow down payments as low as 3.5%. They are popular with first-time buyers and those with less than perfect credit.
VA loans
VA loans are available to eligible veterans, active-duty service members, and surviving spouses. They require 0% down payment and have no private mortgage insurance requirement.
Jumbo loans
Jumbo loans finance properties that exceed conforming loan limits. They are common in higher-cost markets and typically require larger down payments and stronger credit profiles.
Frequently Asked Questions
What is a good mortgage rate?
A good mortgage rate depends on loan type, term, credit score, down payment, and current market conditions. Your Homexa™ agent can connect you with local lenders who will compete for your business and provide multiple rate quotes.
How much house can I afford?
A common guideline is to keep your total housing payment (principal, interest, taxes, insurance) below 28 to 30% of your gross monthly income. Use the Homexa™ mortgage calculator to estimate based on your specific numbers.
What is PMI and can I avoid it?
Private mortgage insurance (PMI) is required on conventional loans with less than 20% down. You can avoid it by putting 20% down, using a piggyback loan, or requesting cancellation once you reach 20% equity.