Exploring loan options from Guild? Use our guild mortgage calculator to estimate monthly payments for Conventional, FHA, VA, and USDA loans. This tool helps you visualize your housing budget by factoring in down payments, interest rates, and loan terms.
guild mortgage calculator
guild mortgage calculator Formula
This calculator utilizes the standard amortization formula to determine the monthly principal and interest payment required to pay off the loan over the selected term.
Variables
- M: Monthly Payment.
- P: Loan Amount (Home Price – Down Payment).
- i: Monthly Interest Rate (Annual Rate / 12).
- n: Total Number of Payments (Years * 12).
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What is the Guild Mortgage Calculator?
The guild mortgage calculator is a tool designed for homebuyers considering Guild Mortgage as their lender. Guild is known for offering a wide variety of loan products tailored to first-time buyers, including FHA, VA, USDA, and conventional loans with down payment assistance options.
This calculator helps you estimate your core monthly costs (Principal & Interest) so you can determine which Guild loan program might best fit your financial situation.
How to Calculate Guild Mortgage Payment (Example)
- Determine Budget: Enter the home price (e.g., $400,000).
- Down Payment: Guild offers low down payment options. Enter 3.5% for FHA ($14,000) or 3% for some conventional loans.
- Rate: Enter the current market rate (e.g., 6.5%).
- Calculate: The tool computes the monthly payment needed to pay off the remaining balance ($386,000) over 30 years.
Frequently Asked Questions (FAQ)
Yes, through USDA and VA loan programs for eligible properties and borrowers. You can enter “0” in the down payment field to simulate this.
This tool calculates Principal and Interest. FHA loans and conventional loans with less than 20% down will require Mortgage Insurance (MIP or PMI), which is an additional cost.
Yes, Guild offers FHA 203(k) renovation loans. Simply enter the total acquisition cost (Purchase Price + Renovation Costs) as the “Home Price” to estimate payments.
Requirements vary by program, but FHA loans generally allow scores down to 580, while conventional loans typically require 620 or higher.