How down payment changes the comparison
A larger down payment reduces the mortgage amount and can also affect mortgage-insurance requirements. Use the calculator to test the cash required up front against the resulting monthly payment.
THE HOME FINANCING COMPARISON TOOL
Conventional Mortgage Calculator: Compare Down Payment, PMI and Monthly Cost
MyMortgageLens defaults conventional financing to 20% down with no PMI. If the down payment is reduced below 20%, the tool uses an editable 0.55% annual PMI estimate for comparison.
Run Your Comparison →PMI is not one universal rate
Private mortgage insurance pricing varies by borrower, loan-to-value, lender and other factors. The 0.55% default is only a starting estimate and can be replaced with a lender-provided figure.
Compare conventional against the home, not just another loan
The same loan type can produce very different housing payments on two homes because taxes, insurance and HOA dues differ. Enter property-specific numbers whenever possible.
Important: MyMortgageLens provides educational illustrations, not a financing offer or lender quote. Rates, eligibility, taxes, insurance, mortgage insurance, fees and incentive terms vary. Confirm your actual figures with the appropriate lender and professionals.