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LEGEND
Down Payment
It is extremely important to discuss options with a mortgage professional, he or she will explain the pros and cons of down payment amounts. Most people put as little as possible or greater than 40% to get the prefered rates.
Loan Term
Your loan program can affect your interest rate and monthly payments. Choose from any term you want in the calculator typically it's a 25 year repayment term.
Interest Rate
This field is pre-filled with the current average mortgage rate. Your actual rate will vary based on factors like credit score and down payment.
Property Tax
The mortgage payment calculator includes estimated property taxes based on the home's value. You can edit this in the advanced options.
Home Insurance
Home insurance or homeowners insurance is typically required by lenders, depending on the loan program. You can edit this number in the mortgage calculator advanced options.
HOA Fees
A homeowners association fee (HOA fee) is an amount of money that must be paid monthly by owners of certain types of residential properties, and HOAs collect these fees to assist with maintaining and improving properties in the association.