The calculator below will give you an idea of either a maximum purchase price based on your desired monthly mortgage payment or a monthly mortgage payment based on your desired purchase price. This is an estimate. You will work with your NACA Mortgage Consultant to determine what you can actually afford. Remember, you will need to document monthly Payment Shock savings - the difference between your rent and desired mortgage payment.
Mortgage Calculator for NACA Mortgage
Enter your Desired Payment (Will Calculate Purchase Price or Mortgage Amount).
Enter your Desired Purchase Price (Will Calculate Monthly Mortgage Payment).
Principal, interest, taxes, and insurance
One to four families, condo and co-ops
Rent Per Unit:
Mortgage payment reduced by 75% of rental income
30 year fixed. One percent below the conventional market rate
1% of mortgage permanently reduces interest rate by 0.25% down to zero percent
Interest Rate With Buy-down:
Paid By Lender
Rate is based on per $1,000 of mortgage
Monthly Insurance Per Unit:
HOA / Condo Fee:
Home Save / Membership Fee:
Provides post purchase counseling and financial assistance and other NACA benefits