Barrett Financial Group · The Murrieta TeamThe Toolbench
Run every number before you fall in love.
The same modeling we run in consultations — payment, affordability, refinance timing, rent-versus-buy, cash to close, bi-weekly schedules, early payoff, and investor DSCR.
Estimated monthly payment
$3,948
- Principal & interest
- $3,202
- Property taxes (est.)
- $601
- Homeowners insurance (est.)
- $145
- Loan amount
- $520,000
View as table
| Year | Balance | Interest paid |
|---|---|---|
| 0 | $520,000 | $0 |
| 4 | $493,173 | $126,856 |
| 8 | $458,748 | $246,114 |
| 12 | $414,574 | $355,623 |
| 16 | $357,891 | $452,623 |
| 20 | $285,156 | $533,571 |
| 24 | $191,822 | $593,920 |
| 28 | $72,057 | $627,838 |
| 30 | $0 | $632,623 |
FAQ
Numbers questions, answered
Are Pre-Qualification and Pre-Approval the same thing?
No. Pre-qualification and pre-approval are two different things. Pre-qualification means that a mortgage lender has reviewed your financial records and believes you will qualify for a loan. A pre-approval is a conditional commitment from a lender that they will lend you the money for a mortgage.
Do I need to save for a 20% down payment?
No! With FHA loans, you could get approved for options as little as 3.5% down, VA and USDA loans can offer you $0-down options, and with Private Mortgage Insurance (PMI) you can get into your new home with less than a 20% down payment. Whatever your situation, talk to your mortgage lender to discuss options.
What's the difference between an adjustable and a fixed rate mortgage?
A fixed rate mortgage means that the interest rate is set when you take out the loan and will not change. With an adjustable rate mortgage, the interest rate may go up or down after a certain amount of time. Many adjustable rate mortgages will start at a lower interest rate than fixed rate mortgages.
When should I lock my rate?
When the payment works for your budget, not when the news feels calm. We watch the market daily, tell you when your target is available, and many of our programs include a float-down if rates improve before closing.