About this calculator:
Term: We've assumed a 30-year term
Property taxes: We've assumed a 1.5 percent property tax on the purchase price. Your rate, and ultimate tax bill, may differ significantly. For a more accurate total payment, enter your own estimated annual taxes.
Homeowner's insurance: Uses an annual premium of $481, the national average according to the Insurance Information Institute.
PMI: Your total payment includes an estimated $80 fee for private mortgage insurance (PMI) if your downpayment is less than 20 percent of the purchase price. Average PMI runs $50 to $80 per month on a median priced home of $159,000, according to the Mortgage Insurance Companies of America. But it can climb to $150 per month or more.
|Yearly property taxes:||$|
|Yearly homeowner's insurance:||$|
|Principal and interest:||$|
|Taxes and insurance:||$|