Your numbers
Default rate reflects roughly where CA 30-year conventional rates sat in mid-2026 (~6.4–6.6%). Enter today's quote for accuracy.
Your estimated payment
- Principal & interest$0
- Property tax$0
- Home insurance$0
- PMI$0
- HOA$0
Estimate only — not a loan offer. PMI is added automatically when your down payment is under 20%.
| Loan summary | |
|---|---|
| Loan amount | $0 |
| Down payment | $0 |
| Total interest over the loan | $0 |
| Est. annual PMI (while it applies) | $0 |
What makes this a conventional calculator
A conventional loan has two quirks that a generic mortgage calculator glosses over, and both are built into the tool above:
- PMI logic. Conventional loans add private mortgage insurance only when your down payment is under 20%. The calculator shows your estimated PMI, flags when you'd avoid it entirely, and tells you how much more down would remove it.
- Conforming vs. jumbo. To get standard conventional pricing, your loan must stay within your county's 2026 conforming limit. The calculator checks your loan amount against the limit you select and flags whether you're conforming or would need a jumbo loan.
Understanding your PMI
PMI protects the lender if you default — it's a cost to you, not a benefit. On a conventional loan it typically runs 0.3%–1.5% of the loan per year, priced by your credit score and loan-to-value. The good news, and the big advantage over FHA: conventional PMI is not permanent. You can request cancellation at about 20% equity, and it's automatically removed at 22%. In appreciating California markets, rising home values can get you there faster than you'd expect. Want the full comparison? See Conventional Pros & Cons.
Conforming vs. jumbo, in one glance
For 2026, the one-unit conforming limit is $832,750 in most California counties and $1,249,125 in high-cost areas like Los Angeles, Orange, and the Bay Area. If your loan amount lands at or below your county's limit, you're conforming and get the best conventional pricing. Above it, you're in jumbo territory — which carries stricter credit, reserve, and down-payment rules. Because a small change in price or down payment can flip you between the two, it's worth structuring carefully. See the Requirements page for the full limit picture.
FAQs
How is the payment calculated?
Principal and interest (from your loan amount, rate, and term), plus monthly property taxes and insurance, plus PMI if you're under 20% down, plus any HOA. The tool adds all of them.
When does PMI apply?
When your down payment is under 20%. It runs ~0.3–1.5% of the loan yearly and cancels at ~20% equity (auto at 22%). Put 20% down and the calculator shows no PMI.
Is my loan conforming or jumbo?
At or below your county's 2026 limit ($832,750 standard, $1,249,125 high-cost) it's conforming conventional; above it needs a jumbo. The calculator flags your status.
Is this a loan offer?
No — it's an educational estimate from your inputs. Your real rate, PMI, and terms depend on credit and the market, confirmed at pre-approval and underwriting.
Provided by Save Financial, a California-licensed mortgage brokerage (NMLS #377740, DRE #01875766) founded in 2009 and serving all 58 counties from offices in Newport Beach and Marina del Rey.