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Mortgage Calculator

“Most mortgage calculators tell you if you can afford the payment. This one tells you if you should.”

Loan Details

Home price

Mid-Valley medians: Albany $342k · Corvallis $485k · Salem $375k · Lebanon $289k

Down payment

LTV: 80% No PMI ✓

20%

Loan term

est rate

Current avg for Oregon conventional loans — updated monthly by Oakley.

Property tax ($/mo)

~1% of home value/yr ÷ 12

Home insurance ($/mo)

HOA fees ($/mo)

Total Monthly Payment

$—

/month

$—

/month

Due at closing

Down payment (20%) $68,400

Est. closing costs (4%) $13,680

Total due at close $82,080

Loan cost over time

At your rent, when does buying actually start paying off?

Your situation

Your current monthly rent

Using home price $342,000, $—/mo payment from Tab 1.
← Edit in Monthly Payment tab

Monthly cost comparison

Buying

$—

mortgage + taxes + ins.

Renting

$—

your current rent

Equity vs. portfolio milestones

	Year 5	Year 10
Calculating…

Cost of waiting 12 months

Break-even point

—

Calculating…

Equity vs. portfolio over time

Oakley’s take

The break-even timeline is the number most buyers never ask for. If you’re planning to stay less than the break-even period, the math tilts toward renting. If you’re planning 7+ years, the Mid-Valley appreciation story makes buying the stronger financial move in almost every scenario I’ve run.

What the lender approves vs. what you’ll actually spend.

Additional cost factors

Maintenance reserve ($/mo)

Standard estimate: 1% of home value/yr. Older homes can run 1.5–2%.

Utility delta vs. renting ($/mo)

Heating, water, yard, garbage — typically $100–200/mo above an apartment.

Opportunity cost rate (%)

The return your down payment could earn if invested instead. S&P 500 historical avg: ~7%.

Opportunity cost note

Oakley’s take on maintenance

I personally show every buyer I work with this table before we write an offer. The maintenance reserve is the one that surprises people most. In a 1960s Albany ranch house, I’d budget closer to 1.5–2% annually. In a 2010+ build in South Albany, 1% is probably fine. Know which you’re buying.

Tier 1 — What the lender sees

Principal & interest$—

Property tax$—

Home insurance$—

PMI$—

HOA$—

Total $—

↓

Tier 2 — What you’ll actually spend

Everything above$—

+ Maintenance reserve$—

+ Utility delta$—

Real monthly spend $—

↓

Tier 3 — True economic cost

Everything above$—

+ Opportunity cost of down payment$—

Full economic cost $—

Run the readiness check based on your numbers.

Your financial picture

Current monthly rent

Gross income

Before taxes. Used for DTI — the number lenders actually use.

Target home budget

Current savings available

Credit score range

Purchase timeline

First-time homebuyer?

Yes, this will be my first home purchase

—

Readiness score

—

Next steps

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Based on your numbers, here’s what I’d tell you.

The numbers are yours. The next step is a conversation.

Talk to Oakley — (541) 589-2765

Estimates only. Mortgage calculations use standard amortization. Break-even analysis uses assumed 4.2% annual Mid-Valley appreciation, 3% annual rent increases, and 7% investment return — actual figures will vary. Opportunity cost figures are illustrative. Closing costs estimated at 4%. PMI estimated at 0.7% annually. This tool is for informational purposes only and does not constitute financial, lending, or legal advice.