Down Payment: $
Mortgage amount after down payment: $
Monthly Payment: $ (Principal and Interest Only)
Since Principal and Interest are not the only factors of a loan we should include an estimate for PMI, Taxes and Insurance.
An average tax figure for your home could be about $10 for every $1000 assessed value.
If the assessed value of your home is 85%, this would make your home's assessed value $
, and your monthly tax $.
Your down payment was less than 20% of the loan which means you will be paying PMI.
This averages around $ for every $100,000 borrowed.
An estimate for PMI will be around $ per month.
With PMI, Taxes, and Homeowners Insurance ($ average) your payment would be close to $.
Since you are putting down 20% or greater, you will not have to pay PMI. So, your monthly payment with taxes and estimated homeowners insurance
($) would be around $.
Calculations by this calculator are estimates only. There is no warranty for the accuracy of the results or the relationship to your financial situation.
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