Home Price

This is the full price of the home you would be buying.

Down Payment

This is the amount of money you would need to provide at the time of closing that would count towards ownership of your home. Keep in mind, you would also need to pay closing costs and other fees in addition to the down payment.

Mortgage Interest Rate

This is the percentage you would have to pay the lender for the money you've borrowed. Interest rates are based on your credit score and several other factors, as well as market fluctuations.

Property Taxes

This is a tax levied by the government where the property is located based on the property's value.

Private Mortgage Insurance (PMI)

This is an insurance policy lenders require of borrowers who put down less than 20% of the home price to protect the lender against borrower default.

Homeowners Insurance

Lenders require that borrowers purchase homeowners insurance, also known as hazard insurance, to protect your property and personal possessions from certain types of crime and weather-related damage.

Homeowners Association Dues

It is common for condominium and townhome owners to owe association dues to cover building amenities, maintenance, and improvements.