Estimate your non-QM payment & compare
Conventional
Non-QM
Estimate only. Compares principal & interest; conventional side adds estimated PMI (~0.5%/yr) when down payment is under 20%. Excludes property taxes, homeowners insurance, and HOA. Non-QM has no mortgage insurance at any LTV. Not a quote; your actual non-QM rate depends on program, credit, and profile from underwriting. Figures current as of 2026.
Why this comparison matters for non-QM
Most non-QM calculators show only the payment — which makes non-QM look purely more expensive. But the real decision is a comparison, and two things move it:
- The rate premium — non-QM runs 0.5–2% above conventional. Set it with the slider to match your program.
- No mortgage insurance — conventional under 20% down adds PMI, which this calculator applies to the conventional side. That closes part of the gap the rate opens.
The point isn't that non-QM always wins — it's that the true cost gap is usually smaller than the headline rate suggests, especially at lower down payments. And for many borrowers, the honest comparison is non-QM vs. no loan, because conventional wasn't available. For the pricing behind the premium, see Rates.
Non-QM calculator FAQs
Does it compare to conventional?
Yes — side by side, adding PMI to the conventional side under 20% down, so you see the true cost gap.
Why no MI line for non-QM?
Non-QM has no mortgage insurance at any LTV — that's part of why the comparison narrows.
Is the estimate exact?
No — it excludes taxes, insurance, and HOA, and your real non-QM rate comes from underwriting.
What premium should I use?
0.5–2% over conventional. Try that range to see the no-MI offset, then get a quote.
Reviewed by the licensing team at 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.