Your Estimated
Monthly Payment:
Estimated Taxes & Insurance: Property taxes are generally estimated to be 1.2% of the home's value, but may vary based on your location. Your loan specialist can help you determine property tax and insurance rates in your area.
Insurance: Annual homeowners insurance is roughly 0.35% of the home's value but can change based on insurer.
PMI The PMI (Private Mortgage Insurance) is a mortgage lenders' protection in the event of a default. PMI is paid monthly as part of your mortgage payment to the lender. Once a borrower has paid the equivalent of the 20% down payment, PMI can be removed from the monthly mortgage payment.