How is a monthly mortgage payment calculated?

Your monthly mortgage payment has four components: principal and interest (based on your loan amount, interest rate, and term), property taxes, homeowners insurance, and any required mortgage insurance. This calculator breaks down each component so you can see exactly where your money goes.

Do VA loans require a down payment?

No. VA loans allow eligible veterans and active-duty service members to purchase a home with zero down payment. A one-time VA funding fee is typically rolled into the loan amount, and VA loans never require private mortgage insurance (PMI).

What is PMI and when can it be removed?

Private mortgage insurance (PMI) is required on conventional loans when your down payment is less than 20%. PMI is automatically canceled once you reach 20% equity in your home. VA loans never require PMI, and FHA loans use a separate mortgage insurance premium (MIP) structure.

What is the difference between FHA and conventional loans?

FHA loans require as little as 3.5% down and include an upfront mortgage insurance premium (1.75%) plus annual MIP. Conventional loans typically require 5% or more down and charge PMI only when the down payment is under 20% — and PMI can be canceled once you reach 20% equity. FHA MIP may be required for the life of the loan if your down payment is under 10%.

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Terms & Conditions

Effective Date: April 15, 2026

1. Acceptance of Terms

By accessing this website, you agree to comply with these Terms & Conditions.

2. Use of Website

You agree to use the website only for lawful purposes. You may not:

Use the site for fraudulent or unlawful activities
Attempt to gain unauthorized access to systems
Interfere with website functionality

3. Real Estate Disclaimer

Nelson Home Group provides real estate information for general informational purposes only.

This is not a guarantee of property availability or pricing
Information may change without notice
Users should independently verify all property details

4. No Agency Relationship

Use of this website does not create a broker-client or agency relationship unless explicitly established through a written agreement.

5. Intellectual Property

All content on this website (text, graphics, logos, images) is the property of Nelson Home Group unless otherwise stated and is protected by copyright laws.

You may not reproduce, distribute, or exploit content without written permission.

6. Limitation of Liability

Nelson Home Group shall not be liable for:

Errors or omissions in website content
Any damages resulting from use of the website
Third-party services or links

7. Third-Party Services

This website may integrate services such as IDX feeds, analytics, or marketing tools. Use of those services is subject to their respective terms.

8. Fair Housing Compliance

Nelson Home Group complies with all applicable Fair Housing laws and does not discriminate based on race, color, religion, sex, disability, familial status, national origin, or any other protected class.

9. SMS & Communication Consent

By submitting your contact information, you consent to receive communications from Nelson Home Group via:

Phone calls
Emails
Text messages (standard messaging rates may apply)

You may opt out at any time by replying “STOP” to text messages or contacting us directly.

10. Governing Law

These Terms shall be governed by the laws of the States of Missouri and Kansas.

11. Modifications

We reserve the right to update these Terms at any time. Continued use of the website constitutes acceptance of any changes.

12. Contact Information

For questions regarding these Terms, please contact:

Joe Nelson
Nelson Home Group
Phone: 816.680.6624
Email: nelsonhomegroup@gmail.com
Address: 1508 NW Vivion Rd #205, Kansas City, MO 64118