Two loans walk in. One makes sense. Let the math referee.
Line up FHA vs conventional, full doc vs DSCR or bank statement, 15 vs 30 year, points vs no points, competing quotes, or different down payment assistance structures. Same house, same yardstick: monthly cost, cash to close, and the true cost at your horizon.
Scenario A
Down payment assistance
Scenario B
Down payment assistance
The verdict at your 7-year horizon
Scenario A wins: ≈ $47,773 ahead of the next-best option over your 7 years
Net cost by year: everything spent and still owed, minus what the home is worth. Lower is cheaper; below zero means owning came out ahead. Dots mark your horizon.
Scenario A
Scenario B
The loan
Conventional · 30yr @ 6.74%
FHA · 30yr @ 6.29%
Monthly P&I
$2,333/mo
$2,732/mo
Mortgage insurance
—
$203/mo
Total monthly payment
$2,895/mo
$3,497/mo
Your cash to close
$97,850
$23,750
Loan amount
$360,000
$441,849
Interest + MI paid, year 7
$162,717
$202,741
Loan balance at year 7
$326,782
$398,087
Net cost at year 7
$114,374
$162,147
Net cost, full payoff
$47,804
$190,424
FHA with under 10% down carries MIP for the life of the loan; the usual escape is refinancing into conventional once you have 20% equity.
Net cost counts your cash to close, every payment made (P&I, mortgage insurance, estimated taxes and insurance, HOA dues, and any assistance second), and everything still owed at that point, minus what the home is worth at your appreciation rate. Each column can price its own property; with the same property everywhere, the value cancels and this is a pure loan-vs-loan comparison. Conventional PMI drops off with equity; FHA MIP follows HUD's schedule; typed MI overrides replace the schedules. Estimates from your inputs, not a quote or a commitment to lend.
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Straight answers
What can I compare here?
Any two or three fixed-rate purchase setups: FHA against conventional, a full-doc conventional investment loan against a DSCR loan, bank statement against conventional, a 15-year against a 30-year, a quote with points against one without, two lenders' quotes against each other, or the same loan with different down payment assistance attached. Each loan gets its own program, down payment, rate, term, points, closing costs, and assistance.
Is the paperwork-light loan worth the higher rate?
That's exactly the investor question this tool answers. A full-doc conventional investment loan usually prices lower but wants your complete tax picture; a DSCR loan qualifies on the property's rent and skips the returns entirely. Put your real quotes in both columns and the true-cost row shows what the convenience actually costs over your hold.
What does "net cost" mean?
Everything a loan actually takes from you by a given point in time (your cash to close, every payment made including taxes, insurance, mortgage insurance, HOA dues, and any assistance second, plus everything you'd still owe if you settled up that month) minus what the home is worth by then. Lowest number wins, and a negative number means owning came out ahead. When every column is the same property, the home value cancels and it's a pure loan-vs-loan comparison.
Can I compare two different properties?
Yes. Each loan can carry its own property price and its own HOA fee, so a condo with dues can go head to head against a single-family at a different price. The math grows each property at your appreciation rate and charges each column its own taxes and insurance, so the verdict compares the whole deal, not just the loan.
Why does the winner change with how long I keep the loan?
Because loans front-load their costs differently. Points, bigger down payments, and 15-year terms cost more up front and win over time; low-down and low-cash options win early and give it back through mortgage insurance and interest. That's why the calculator plants a flag at your horizon instead of pretending one answer fits everyone.
How does it handle down payment assistance?
By pricing what each flavor claws back. A grant is free money. A forgivable second melts away over its forgiveness period but claws back the unforgiven share if you sell early. A silent second charges nothing monthly and comes due in full at sale or refinance. A repayable second is a real loan with a real payment. The true-cost yardstick counts each one honestly at your horizon.
Two minutes. No obligation. Real numbers.
These are honest estimates from typical schedules. Your real quotes come from lenders competing for your file, and getting them costs nothing.
Guthix Lending • NMLS# 2672037 · Calculator results are estimates for illustration only, based on your inputs and national average rates. They are not a quote, a pre-approval, or a commitment to lend. Your actual rate, payment, and eligibility depend on your full application, credit, and property. Not all borrowers will qualify.