Calculate your true monthly payment, including FHA mortgage insurance, conventional PMI with its exact drop-off month, and the VA funding fee. Then see how rental income from a duplex, triplex, or fourplex unit reduces your out-of-pocket cost.
Total PITIA
$2,830
per month
Net Out-of-Pocket
$1,430
after rental offset
Upfront Cash Needed
$22,750
down pmt + 3% closing
Loan Amount
$343,661
incl. $5,911 upfront fee
Total interest paid over the life of the loan: $438,320
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $2,172.17 | $310.67 | $1,861.50 | $343,350 |
| 2 | $2,172.17 | $312.36 | $1,859.81 | $343,038 |
| 3 | $2,172.17 | $314.05 | $1,858.12 | $342,724 |
| 4 | $2,172.17 | $315.75 | $1,856.42 | $342,408 |
| 5 | $2,172.17 | $317.46 | $1,854.71 | $342,090 |
| 6 | $2,172.17 | $319.18 | $1,852.99 | $341,771 |
| 7 | $2,172.17 | $320.91 | $1,851.26 | $341,450 |
| 8 | $2,172.17 | $322.65 | $1,849.52 | $341,128 |
| 9 | $2,172.17 | $324.39 | $1,847.77 | $340,803 |
| 10 | $2,172.17 | $326.15 | $1,846.02 | $340,477 |
| 11 | $2,172.17 | $327.92 | $1,844.25 | $340,149 |
| 12 | $2,172.17 | $329.69 | $1,842.47 | $339,819 |
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Formulas reviewed by Toheeb Ekundayo · September 12, 2026
This tool computes the full housing payment lenders underwrite, PITIA (principal, interest, taxes, insurance, and association fees), plus the mortgage insurance rules specific to each loan program. Every figure updates instantly in your browser; nothing is sent to a server.
Monthly principal and interest come from the standard amortization formula:
M = P × [ r(1+r)ⁿ ] ÷ [ (1+r)ⁿ − 1 ]
where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12), and n is the number of monthly payments (term in years × 12).
With less than 20% down, the calculator applies an estimated 0.6% annual PMI rate (your quote depends on credit score and LTV) and computes the exact month your balance reaches 80% LTV, the point where you can request PMI removal in writing. That drop-off month is the single biggest long-term cost difference between conventional and FHA financing.
VA loans carry no monthly mortgage insurance. The calculator adds the first-use funding fee (2.15% with zero down) to the loan balance, matching how the VA finances it. Veterans receiving disability compensation are exempt from the fee.
Cash needed to close is estimated as your down payment plus 3% of the purchase price for closing costs and prepaids. Net out-of-pocket cost subtracts the rent you expect to collect from the other unit(s), which is the number that matters when comparing a house hack against renting.
A $350,000 duplex with 3.5% down FHA financing at 6.5%: the base loan of $337,750 becomes $343,661 after the $5,911 UFMIP. Principal and interest run about $2,172 a month, MIP adds roughly $157, and with $420 in taxes and $150 in insurance the total PITIA is about $2,899. Collecting $1,400 from the second unit drops your net out-of-pocket cost to roughly $1,499 a month, often less than renting a smaller apartment.
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