Full Mortgage Costs Calculation

Full Monthly Payment and Closing

Calculation Notes:
the amount of available cash / equity is the cash you have on hand for your down payment and closing costs. Equity refers to the resale equity value of your existing home if any, that will be available to you once you sell your home.

Closing costs is calculated as percentage of the estimated purchase price of the home — this percentage can range between 3-7% depending on your location and number of points.
The American Housing Survey shows that the median taxes paid averaged $10 per $1,000 in home value. The property insurance paid averaged $30 per month.
You can lookup your property tax assessments by community: www.statelocalgov.net

Any percentage LTV that is greater than 80% may require private mortgage insurance, which can add to the total cost of your loan — if your LTV% (calculated below) is greater than 80%, enter 0.005 in the PMI field and recalculate

Estimated Purchase Price of the Home:
Amount of Available Cash / Equity:
Allocated Percentage for Closing Costs:
Enter your home mortgage loan rate (APR):	%
Enter the number of months to repay:
Enter the Cost per $1000 for Property Tax:
Enter the Monthly Cost for Insurance:
Enter 0.005 for PMI if LTV% is 81% or more:

Amount Allocated for Closing Cost:	$
Amount Available for the Down Payment:	$
Mortgage Loan Amount to Borrow:	$
Borrowing Percent of LTV%:	%

Monthly Mortgage Payment:	$
Monthly Taxes:
Monthly Homeowners Insurance:
Monthly PMI:

Total Estimated Monthly Payment:	$

* Calculations are based upon the assumptions you entered. Please note that rounding errors can make a small difference in calculations. Your actual mortgage lending rate may vary depending on your credit quality and lender. The circumstances surrounding your credit and loan qualifications may result in different calculations.