Free Tool
🇺🇸 US Mortgage Calculator
for Immigrants
Built for South Asian immigrants buying their first home in the US. FHA, conventional, and jumbo loans — with PMI and immigrant-specific readiness checks.
🇺🇸 US Mortgage Calculator
FHA · Conventional · Jumbo · PMI included
Default rate
6.75% (30yr, Q2 2025)
Conventional Loan
Monthly Total
$4,277
Principal + Interest
$3,211
PMI
$413
Total Interest
$660,802
PMI of $413/mo drops off once you reach 20% equity (~$110,000 paid down).
Loan: $495,000 · Total paid over 30 yrs: $1,155,802
Estimates only — verify with a licensed US mortgage lender
Immigrant Readiness Checklist
H1B · Green Card · ITIN- Credit score: 620+ for FHA, 680+ for conventional, 740+ for best rates
- Employment: 2 years of US work history typically required (H1B counts)
- Down payment gifts from India: document all funds — bank statements + gift letter required
- ITIN holders: some lenders accept ITIN in place of SSN — shop specifically for ITIN lenders
- Visa expiry: lenders want remaining visa term ≥ loan term, or clear path to Green Card
PMI Explained
Private Mortgage Insurance protects the lender if you default. Required when down payment is under 20%. You can request removal once you reach 20% equity — typically 5–7 years into a 30-year mortgage.
Gift Funds from India
Down payment gifts from parents in India are allowed but require documentation. You'll need a gift letter, 3–6 months of donor bank statements, and proof the transfer was genuine (not a loan).
Need a US mortgage broker?
Find licensed mortgage professionals who specialize in immigrants and H1B visa holders.