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All calculations are estimates. Actual rates and payments depend on your credit profile. Not a commitment to lend. NMLS #65506.
Your monthly mortgage payment has four components, often called PITI: principal (paying down your loan balance), interest (the cost of borrowing), taxes (property taxes collected monthly), and insurance (homeowner coverage). Understanding each piece helps you make better decisions about how much home to buy.
A larger down payment means a smaller loan and lower monthly payment. Putting 20% down also eliminates PMI on conventional loans, saving $100-300/month. VA loans require $0 down with no PMI. FHA requires 3.5% minimum but charges lifetime MIP. Use the calculator above to see how different down payments affect your number.
On a $400,000 loan, a 1% rate increase adds roughly $250/month and $90,000 over 30 years. This is why shopping multiple lenders matters — Valley West compares 50+ wholesale lenders to find your lowest rate. Even a 0.25% improvement saves $60/month and $21,000 over the loan.
A 15-year term has higher monthly payments (~35% more) but saves $200,000+ in interest versus a 30-year. The current 15-year rate is typically 0.375-0.50% lower than the 30-year rate, further increasing savings. See the comparison section above for exact numbers.
Principal & interest only. Actual rates vary by credit profile and loan type. Rates subject to change.
Eligible veterans get the lowest payments — no down payment and no mortgage insurance. Funding fee can be financed.
VA calculator →Lower credit requirements and small down payment. Monthly MIP adds to payment but qualification is more flexible.
FHA calculator →Best for 700+ credit buyers. PMI drops at 20% equity — lower long-term cost. No upfront mortgage insurance premium.
Conv calculator →Clark County property taxes are among the lowest in the nation. Nevada has no state income tax, which improves your debt-to-income ratio. The calculator above defaults to Las Vegas-area tax and insurance rates. Actual rates depend on property location, assessed value, and coverage level.