Sacramento Mortgage Calculators

Closing costs typically run 2% to 3% of the purchase price in the Sacramento area. On a $500,000 home that's roughly $10,000 to $15,000. They include lender fees (origination, underwriting, appraisal), title insurance, escrow fees, recording fees, and prepaid items like property taxes and homeowners insurance. In many cases the seller can credit a portion of these costs back to you at closing — we'll structure your offer to ask for it when it makes sense.

Escrow is a separate account your lender holds to pay your property taxes and homeowners insurance on your behalf. Each month you pay 1/12 of the annual amount along with your principal and interest, so your full payment is PITI: Principal, Interest, Taxes, and Insurance. The calculators on this page automatically include taxes (about 1.1%/yr in Sacramento County) and homeowners insurance (~$1,800/yr) so the monthly number you see matches what you'll actually pay.

It depends on the loan. Conventional loans require PMI only if you put less than 20% down, and it drops off automatically once you reach 22% equity (or you can request removal at 20%). FHA loans carry MIP for the life of the loan in most cases — refinancing to conventional once you build equity is the usual exit. VA and USDA loans have no monthly mortgage insurance, though VA has a one-time funding fee and USDA has a small annual fee.

Less than most people think. VA and USDA loans allow $0 down for eligible buyers. FHA is 3.5% down (about $17,500 on a $500K home). Conventional starts at 3% for first-time buyers. CalHFA offers down payment assistance that can cover most or all of the down payment for income-qualified California buyers. The calculator defaults assume a 5% down scenario, but adjust it to match your actual savings.

FHA loans accept scores as low as 580 (and 500 with 10% down). Conventional loans typically start at 620, with the best pricing at 740+. VA loans don't set a federal minimum but most lenders look for 580–620. If your score isn't where you want it, we can run a soft pull, identify the 2–3 highest-impact items, and often improve it 20–40 points in 60–90 days.

The slider is for modeling. Your real rate depends on credit score, loan type, loan-to-value, lock period, and what the market is doing the day you lock. Always call or text for a same-day quote on your specific scenario — we don't charge for it and there's no commitment.

A common guideline is the 43% debt-to-income (DTI) rule: your total monthly debt (housing + cars + student loans + credit cards) should stay under 43% of gross monthly income. The affordability tab above uses that rule along with the rate, taxes, and insurance to back into a realistic purchase price. Strong reserves, low other debt, and a higher credit score can push that ceiling higher.

It depends on how long you plan to stay and how fast rents are rising in your area. The Rent vs. Buy calculator above models 5+ years of equity, appreciation, and rent increases side by side. In most Sacramento scenarios buying pulls ahead by year 4–5, but if you're moving sooner than that, renting can be the smarter math.

Pre-qualification is a quick estimate based on numbers you share — useful for rough planning, not for making offers. Pre-approval means we've pulled credit, verified income and assets, and issued a letter underwriters and sellers will trust. In Sacramento's market, sellers will almost always require a real pre-approval letter (not a pre-qual) before they'll consider your offer.