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What would my payment be?

Estimate the monthly payment on a home price, or the price range your income supports. There is no email field.

Details

Your calculator inputs are processed locally in your browser and are not submitted to Mike Millet. Anonymous usage events may be recorded without your financial inputs.

Gross household income per year

Before tax, everyone who will be on the loan.

Monthly debt payments

Car payments, student loans, credit-card minimums, child support. Not rent, utilities, groceries or phone. Leave blank if none.

Home price optional

Fill this in to see the payment and cash to close for a specific price. Blank uses the middle of the estimated range.

Down payment

Blank uses the loan type’s minimum down payment.

Loan type

Interest rate % per year

As of Oct 29, 2026, Freddie Mac

Rate assumptions

Enter an illustrative interest rate provided by a lender. Rates shown in builder advertisements may have eligibility requirements, fees, and restrictions. This calculator does not reproduce or verify a builder’s financing offer.

7.24% is the 30-year fixed average for the week of Oct 29, 2026 (Freddie Mac Primary Mortgage Market Survey), refreshed each week when Freddie Mac publishes. The 3.99% scenario is an illustrative builder promotional rate based on Mike’s experience with Maricopa new-build incentives. It is not a current rate quote or guaranteed offer, and it is not a market average. It only applies when you choose it.

Estimated monthly payment

—

Enter a home price to see the payment.

Enter your income to see how debt changes the estimate.

The guideline being used

VA — 41% of gross income—

FHA — 43% (manual underwriting)—

Conventional — illustrative DTI ceiling of 50%—

USDA — 41% of gross income (eligible areas only)—

Conventional — illustrative DTI ceiling of 50%. Some eligible loans may reach this threshold through automated underwriting. Actual eligibility depends on credit, loan size, income, reserves, program requirements, and lender approval. Certain 3%-down programs have additional eligibility restrictions.

Estimated cash to close—

Down payment—
Estimated settlement fees—
Prepaid expenses & escrow deposits—
Seller or builder credit—
Other credits you entered—
Unused credit, not counted —
Estimated funds needed—
Less earnest money already paid—
Estimated still due at closing—

Settlement fees % of price

Estimated settlement fees: 3% of purchase price, excluding the prepaid expenses calculated separately below. This is an independent planning assumption, not Freddie Mac’s total closing-cost estimate.

Prepaid expenses & escrow deposits

Blank uses illustrative prepaid expenses and escrow deposits, including 12 months of insurance, 2 additional months of insurance reserves, 3 months of tax reserves and 15 days of interest. Actual amounts depend on your lender, closing date and escrow requirements.

Seller or builder credit optional

Other credits

For example, a lender credit you have been quoted. Same limits as above.

Earnest money already paid

Deposits paid before closing are usually credited toward what you owe at closing.

Illustrative estimate of funds needed to complete the purchase, not a lender’s Loan Estimate. Actual cash needed depends on closing fees, prepaid expenses, deposits already paid, financing, eligible credits, and transaction adjustments. Some expenses may be paid before closing.

Rate and APR disclosure: illustrative, not an APR or a loan offer

Illustrative mortgage calculation using a hypothetical 30-year, fixed-rate loan. This is not an advertised financing offer. The interest rate shown is an assumption, not an APR. Actual APR, payment schedule, fees, and available terms must be obtained from a licensed lender.

Illustrative financing scenario only; not a loan offer. Interest rate, APR, down payment, repayment terms, and payment amounts depend on lender-approved terms. Contact a licensed mortgage lender for actual financing disclosures.

The rest of the payment

Property tax rate % per year

%/yr

Homeowners insurance per month

$/mo

HOA dues per month

$/mo

Mortgage insurance % of the loan per year

%/yr

Tax and insurance assumptions

Estimated property tax: 0.63% annually. Local planning assumption based on Mike Millet’s experience, not an official property-specific tax rate. Actual taxes depend on the property’s assessed value, applicable tax districts, and exemptions.

Estimated homeowners insurance: $70/month for a new build, Mike’s figure, or $170/month for a resale. Resale $170 a month is Mike’s planning figure, set just under 2026 Arizona quote studies for $300,000 to $350,000 of dwelling coverage: Insurance.com about $200 a month (Sep 30, 2026), ValuePenguin about $185 (Sep 25, 2026) and Insurify about $181 (Nov 1, 2026). Illustrative starting assumption, not an insurance quote. Premiums vary by property, insurer, coverage, and deductible. Enter your own estimate when available.

HOA dues: nearly every Maricopa community has one; neighborhoods built since the city incorporated in 2003 all do. This page and the builder offers calculator both start at $85/month. Enter your community’s actual dues. The HOA map lists reported dues by community.

Mortgage insurance: estimated conventional private mortgage insurance (PMI) is 0.85% annually. Illustrative assumption; actual PMI depends on credit, down payment, and loan terms. A conventional loan with 20% or more down has no PMI here. FHA loans carry an annual mortgage insurance premium whatever the down payment (0.55% here, or 0.50% with 5% or more down, per HUD). VA loans have no monthly mortgage insurance. This page includes mortgage insurance in the monthly total; the builder offers calculator’s payment does not, so compare the two with that in mind.

This is an estimate, not a lender approval. It is arithmetic on the numbers you typed. A lender looks at credit, how your income is documented, how long you have had it, reserves, the actual tax bill and insurance quote for a specific address, and their own overlays on top of the loan guidelines — any of which can move this number in either direction. Use it to decide whether a conversation is worth having, not to decide what to offer on a house.

Want the version with your actual numbers in it? Send me what you’re working with and I’ll walk through it with you.

Book a 1-on-1 Zoom Text 520-842-5300 Call 520-842-5300

Compare builder offers → The published financing and closing-cost offers from the builders selling in Maricopa right now, side by side, with the fine print beside every rate. Moving here from out of state? → The companion planner: when to list the home you own now, when to start looking here, and what each step takes — worked backward from the month you want to be in Maricopa.

How this is calculated

Monthly payment. Principal and interest on a 30-year fixed loan of the home price minus the down payment, plus any VA funding fee or FHA upfront premium added to the loan, plus property taxes, insurance, HOA dues and monthly mortgage insurance from the fields above. Each line is rounded to whole dollars and the total is the sum of the rounded lines.
Price range. The price whose full monthly payment uses the loan type’s debt-to-income ratio of your gross income, after your monthly debts. The range shown is that figure plus or minus 3%.
VA — 41% ratio, funding fee, exemption. 41% is the guideline in the federal underwriting standard, not a hard cap: above it a loan can still be approved with written justification, or without that review if residual income exceeds the guideline by at least 20% (38 CFR 36.4340). Funding fee 2.15% first use with less than 5% down, 1.5% with 5% to under 10% down, 1.25% with 10% or more down, and 3.3% subsequent use with less than 5% down, for loans closing through Nov 14, 2031. This estimator uses the first-use figures. Exemptions include Veterans receiving compensation for a service-connected disability and Purple Heart recipients on active duty (VA funding fee and closing costs).
FHA — 3.5% down, 43% ratio, mortgage insurance. Minimum down payment 3.5% (HUD). 31/43 are the qualifying ratios for manually underwritten loans in Handbook 4000.1 II.A.5.d.viii, restated in Mortgagee Letter 2026-11 (Oct 8, 2026). Annual premium 0.55% for most new borrowers (0.50% with 5% or more down) since Mortgagee Letter 2023-05, plus 1.75% upfront, which this estimator adds to the loan.
Conventional — 3% down, 50% ratio. 3% minimum on a one-unit primary residence under Fannie Mae HomeReady; the ratio is set by Desktop Underwriter, which allows up to 50% for some eligible loans. Conventional — illustrative DTI ceiling of 50%. Some eligible loans may reach this threshold through automated underwriting. Actual eligibility depends on credit, loan size, income, reserves, program requirements, and lender approval. Certain 3%-down programs have additional eligibility restrictions. Private mortgage insurance (PMI) is priced per borrower — roughly 0.5% to 1.5% of the loan a year, driven mostly by credit score. The 0.85% default here is a planning midpoint, not a quote. With 20% or more down, no PMI is included.
“Not sure” about the loan type. The estimate is shown as a conventional loan until you choose one. That is a starting point for the arithmetic, not a recommendation of a loan type.
Rates. 7.24% is the 30-year fixed average for the week of Oct 29, 2026 (Freddie Mac Primary Mortgage Market Survey) and is the starting rate. The 3.99% preset is an illustrative builder promotional rate based on Mike’s experience with Maricopa new-build incentives. It is not a current rate quote or guaranteed offer, and it is not a market average.
Property taxes and insurance. 0.63% of price a year and $70/month of homeowner’s insurance, both per Mike Millet, local REALTOR® — his working planning assumptions for a new build in Maricopa, Pinal County. They are illustrative assumptions, not a tax rate or an insurance quote. Your actual tax bill depends on which taxing districts a specific address sits in — the Pinal County Assessor is the authority — and your insurance depends on the quote you get. Both fields are editable for that reason.
Cash to close. Settlement fees default to 3% of the price, an independent planning assumption that excludes the prepaid expenses calculated separately. It is not Freddie Mac’s total closing-cost estimate (2% to 5% of the purchase price), which would include prepaids. Prepaids and escrow setup default to 12 months of homeowners insurance, 2 months of insurance and 3 months of property taxes for the escrow account, and 15 days of interest, using the tax and insurance figures above; lenders and title companies set the actual amounts. The VA funding fee and the FHA upfront premium are added to the loan here, not to cash to close. Any builder, seller or other credit is something you type in yourself; nothing is carried over from a builder’s offer.
Taxes and insurance. This calculator includes estimated monthly tax and insurance costs. Whether your lender requires an escrow account depends on your loan terms.