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NMLS#

806490

Rick

Ward

Loan Officer

As a Benchmark Professional it's my pleasure to serve your mortgage needs!

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*Pre-qualification is based on a preliminary review of credit information provided to Ark-La-Tex Financial Services, LLC dba Benchmark Mortgage, which has not been reviewed by underwriting. If you have submitted verifying documentation, you have done so voluntarily. Final loan approval is subject to a full underwriting review of support documentation including, but not limited to, applicants’ creditworthiness, assets, income information, and a satisfactory appraisal.

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At Benchmark, our motto is to always do right by the veteran. That means ensuring veterans get the American dream they served to protect. When it comes to VA loans, our team of certified Veteran Specialists are the special forces of the mortgage industry.

Tools you can use right now — with your loan officer on call.

Quick estimates, transparent assumptions. Any tool opens right here on the page.

Results route to your loan officer

Affordability

What home price actually fits your monthly budget, with taxes and insurance included.

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Monthly Payment

Estimate principal, interest, taxes and insurance. Adjust the term and rate to compare scenarios.

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Refi Savings

See your potential monthly savings and your true break-even point after closing costs.

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Rent vs. Buy

Compare staying where you are with buying. See the true cost over five, ten and thirty years.

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Your Finances

Annual Gross Income

$

Monthly Debt Payments (car, student loans, etc.)

$

Down Payment

$

Interest Rate — 6.5%

Loan Term

Annual Property Tax (%)

%

Home Insurance ($/yr)

$

DTI Limit — 36%

Maximum Home Price

$0

Based on your income and DTI limit

Max Loan

$0

Monthly Payment

$0

Principal & Interest

$0

Tax & Insurance

$0

DTI Analysis

Monthly Gross Income$0

Existing Monthly Debt$0

Housing Budget Available$0

Front-End DTI0%

Back-End DTI0%

💡 Most lenders prefer a front-end DTI below 28% and back-end DTI below 36–43%.

The information provided by this calculator is for illustrative purposes only and accuracy is not guaranteed. The values and figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a financial professional prior to relying on the results. This calculator does not have the ability to pre-qualify you for any mortgage or loan program. Qualification for mortgages or loans requires additional information such as credit scores and existing debts which is not gathered in this calculator. Information such as interest rates and pricing are subject to change at any time and without notice. All information such as interest rates, taxes, insurance, monthly mortgage payments, etc. are estimates and should be used for comparison only. Ark-La-Tex Financial Services, LLC – NMLS#2143 does not guarantee any of the information obtained by any calculator.

Loan Details

Home Price

$

Down Payment

$

Down Payment %

%

Interest Rate —6.75%

Loan Term

Property Tax (%/yr)

%

Home Insurance ($/yr)

$

HOA ($/mo)

$

PMI Rate (%/yr)

%

Monthly Payment

$0

Total includes all costs below

Principal & Interest

$0

Property Tax

$0

Insurance

$0

PMI + HOA

$0

Loan Summary

Loan Amount$0

Total Interest Paid$0

Total Cost (P+I)$0

PMI Until 20% Equity—

The information provided by this calculator is for illustrative purposes only and accuracy is not guaranteed. The values and figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a financial professional prior to relying on the results. This calculator does not have the ability to pre-qualify you for any mortgage or loan program. Qualification for mortgages or loans requires additional information such as credit scores and existing debts which is not gathered in this calculator. Information such as interest rates and pricing are subject to change at any time and without notice. All information such as interest rates, taxes, insurance, monthly mortgage payments, etc. are estimates and should be used for comparison only. Ark-La-Tex Financial Services, LLC – NMLS#2143 does not guarantee any of the information obtained by any calculator.

A. Input Current Loan

Current Monthly Payment

$

Remaining Balance

$

Current Rate

%

Remaining Term

B. Input New Loan

New Rate

%

New Term

Closing Costs

$

Cash Out Amount (if any)

$

Monthly Savings

$0

Per month after refinancing

Current Payment

$0

New Payment

$0

Breakeven

—

Lifetime Savings

$0

Side-by-Side Comparison

Monthly Payment$0

Total Interest$0

Total Paid$0

Net Savings (after closing costs)$0

The information provided by this calculator is for illustrative purposes only and accuracy is not guaranteed. The values and figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a financial professional prior to relying on the results. This calculator does not have the ability to pre-qualify you for any mortgage or loan program. Qualification for mortgages or loans requires additional information such as credit scores and existing debts which is not gathered in this calculator. Information such as interest rates and pricing are subject to change at any time and without notice. All information such as interest rates, taxes, insurance, monthly mortgage payments, etc. are estimates and should be used for comparison only. Ark-La-Tex Financial Services, LLC – NMLS#2143 does not guarantee any of the information obtained by any calculator.

Renting

Monthly Rent

$

Annual Rent Increase — 3%

Renters Insurance ($/yr)

$

Buying

Home Price

$

Down Payment

$

Interest Rate

%

Property Tax (%)

%

Maintenance (%)

%

Home Appreciation

%

Years in Home

After 7 Years

—

$0

Total Rent Cost

$0

Total Buy Cost

$0

Home Value

$0

Equity Built

$0

Breakeven Analysis

Breakeven Year—

Monthly Buy Cost$0

Monthly Rent (Year 1)$0

Net Buy Cost (after equity)$0

💡 Buying typically makes more sense if you plan to stay 5+ years.

The information provided by this calculator is for illustrative purposes only and accuracy is not guaranteed. The values and figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a financial professional prior to relying on the results. This calculator does not have the ability to pre-qualify you for any mortgage or loan program. Qualification for mortgages or loans requires additional information such as credit scores and existing debts which is not gathered in this calculator. Information such as interest rates and pricing are subject to change at any time and without notice. All information such as interest rates, taxes, insurance, monthly mortgage payments, etc. are estimates and should be used for comparison only. Ark-La-Tex Financial Services, LLC – NMLS#2143 does not guarantee any of the information obtained by any calculator.

Loan Parameters

Loan Amount

$

Annual Interest Rate — 6.5%

Loan Term

Extra Monthly Payment

$

Start Month

Start Year

Monthly Payment

$0

Principal & interest

Total Interest

$0

Total Principal

$0

Total Cost

$0

Interest Saved

$0

Payment Schedule

#	Date	Payment	Principal	Interest	Balance

The information provided by this calculator is for illustrative purposes only and accuracy is not guaranteed. The values and figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a financial professional prior to relying on the results. This calculator does not have the ability to pre-qualify you for any mortgage or loan program. Qualification for mortgages or loans requires additional information such as credit scores and existing debts which is not gathered in this calculator. Information such as interest rates and pricing are subject to change at any time and without notice. All information such as interest rates, taxes, insurance, monthly mortgage payments, etc. are estimates and should be used for comparison only. Ark-La-Tex Financial Services, LLC – NMLS#2143 does not guarantee any of the information obtained by any calculator.

Your Home

Original Purchase Price

$

Current Estimated Value

$

Original Loan Amount

$

Current Remaining Balance

$

Max LTV for HELOC/HEL

Available Equity

$0

Current LTV: 0%

Home Value

$0

Loan Balance

$0

Max Borrowable

$0

Appreciation Gain

$0

Equity Breakdown

Equity Percentage0%

LTV Ratio0%

Principal Paid Down$0

Appreciation$0

Combined Equity$0

💡 Most lenders require at least 15–20% equity to qualify for a HELOC or home equity loan.

The information provided by this calculator is for illustrative purposes only and accuracy is not guaranteed. The values and figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a financial professional prior to relying on the results. This calculator does not have the ability to pre-qualify you for any mortgage or loan program. Qualification for mortgages or loans requires additional information such as credit scores and existing debts which is not gathered in this calculator. Information such as interest rates and pricing are subject to change at any time and without notice. All information such as interest rates, taxes, insurance, monthly mortgage payments, etc. are estimates and should be used for comparison only. Ark-La-Tex Financial Services, LLC – NMLS#2143 does not guarantee any of the information obtained by any calculator.

Service Member Info

Pay Grade

Dependents

Branch

Duty Station Cost Area

VA Loan Details

Home Price

$

Down Payment (VA allows 0%)

$

Interest Rate

%

Loan Term

VA Funding Fee (%)

%

Property Tax (%)

%

Estimated Monthly BAH

$0

E-5 With Dependents

VA Monthly Payment

$0

BAH Coverage

0%

Out-of-Pocket

$0

VA Loan Amount

$0

VA Loan Summary

Funding Fee (financed)$0

Total VA Loan$0

P&I Payment$0

Tax & Insurance$0

BAH Surplus / Shortfall$0

💡 VA loans require no PMI and allow 0% down. The funding fee can be waived for veterans with service-connected disability.

The information provided by this calculator is for illustrative purposes only and accuracy is not guaranteed. The values and figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a financial professional prior to relying on the results. This calculator does not have the ability to pre-qualify you for any mortgage or loan program. Qualification for mortgages or loans requires additional information such as credit scores and existing debts which is not gathered in this calculator. Information such as interest rates and pricing are subject to change at any time and without notice. All information such as interest rates, taxes, insurance, monthly mortgage payments, etc. are estimates and should be used for comparison only. Ark-La-Tex Financial Services, LLC – NMLS#2143 does not guarantee any of the information obtained by any calculator.

Loan Parameters

Buydown Type

Loan Amount

$

Note Rate —6.5%

Loan Term

💡 A temporary buydown is funded up front — usually by the seller or builder — and held in escrow. Your note rate never changes.

Total Buydown Cost (Seller Credit)

$0

Upfront subsidy required to fund this strategy

Note Rate Payment

$0

Year 1 Payment

$0

Year 1 Monthly Savings

$0

Total Payment Savings

$0

Payment Breakdown

Full Note P&I$0

Effective Year-1 Rate0%

Buydown Cost$0

Buydown Cost (% of loan)0%

Period	Rate	Payment	Monthly Savings	Annual Savings

💡 Buydown funds usually come from seller concessions, which are capped — conventional loans allow 3–9% depending on down payment.

The information provided by this calculator is for illustrative purposes only and accuracy is not guaranteed. The values and figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a financial professional prior to relying on the results. This calculator does not have the ability to pre-qualify you for any mortgage or loan program. Qualification for mortgages or loans requires additional information such as credit scores and existing debts which is not gathered in this calculator. Information such as interest rates and pricing are subject to change at any time and without notice. All information such as interest rates, taxes, insurance, monthly mortgage payments, etc. are estimates and should be used for comparison only. Ark-La-Tex Financial Services, LLC – NMLS#2143 does not guarantee any of the information obtained by any calculator.

FAQs

Answers that others like you want to know

Short answers to the questions we hear most. If you want a free consultation, contact me.

What costs of owning do renters often forget?

Property taxes, insurance, maintenance, and HOA dues. This model includes them — which is why the monthly buy cost is higher than just a mortgage payment.

Are taxes and insurance always escrowed?

Usually, yes — the lender collects them monthly and pays the bills for you. Some loans allow you to waive escrow and pay directly.

Is it cheaper to rent or buy?

It depends almost entirely on how long you stay. Renting usually wins for short horizons because of transaction costs; buying tends to win over 5+ years as equity and appreciation compound. This calculator shows your specific break-even year.

Can I refinance if my credit or finances have changed?

Possibly. Improved credit or income may open better options, and if things have gotten tighter, there may still be paths, including streamline programs for some FHA, VA, and USDA borrowers. A conversation is the fastest way to find out.

Does this include property taxes and insurance?

Yes — the payment estimate includes principal, interest, property taxes, and homeowners insurance based on the rates you enter, which is how lenders qualify you.

Do I need an appraisal?

Often, but not always. Many refinances require an appraisal or other property valuation. Some streamline options and some conventional loans may not. Your Loan Officer will tell you up front.

Can I buy a multi-unit property with a VA loan?

Yes — up to four units, as long as you occupy one of them as your primary residence. Rental income from the other units may help you qualify.

Can I refinance a Non-QM loan into a conventional loan later?

Often, yes. Non-QM is frequently a bridge — once you have two years of documented income or your situation stabilizes, a conventional refinance can be the next step.

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