Your numbers.
Your next perspective.

What this estimate covers.

The calculator uses a fixed interest rate and equal monthly principal-and-interest payments over the selected term. Annual property taxes are estimated as the purchase price multiplied by your entered tax percentage, then divided by 12 for budgeting. Annual insurance is also divided by 12. Association dues and other costs may be paid separately from your lender’s mortgage bill. The interest rate is not APR; APR also reflects certain loan costs.

What to budget for separately.

This is not an affordability assessment or a Loan Estimate. Closing costs, lender fees, points, prepaid expenses, escrow funding, developer charges, construction-stage deposits, special assessments, utilities and maintenance are not automatically included. Enter relevant recurring costs yourself. Do not assume a developer deposit schedule matches the down payment shown here.

The default property tax assumption is 1.9% of the purchase price per year, selected as a starting point for planning. It is not a verified tax rate for a property or a tax quote. Change it to match your own estimate. Property taxes can change following purchase or completion. Insurance and association dues can also change. Ask whether a quoted association budget already includes building insurance to avoid double counting; unit coverage can be separate. Mortgage insurance is entered manually, because its availability, cost and requirements vary. A zero value does not mean it is unnecessary.

Adjustable rates, interest-only periods, balloon payments, construction loans and changing payment schedules are not modeled. A lender must assess your eligibility, the project and the actual loan terms.

Learn about mortgage payments and additional costs at the CFPB ↗.