The Other Side of
"Debt Is Only Temporary"
How much is my mortgage payment... really?
So you find yourself browsing the most popular real estate websites and you notice the estimated monthly mortgage payment amounts. "Wow" you say to yourself. Is that all a house costs per month?
NO! Don't be fooled.
Many of the online sites quote you the lowest possible amount per month based on you having superb credit qualifing for the lowest interest rate, and a down payment of typically 10 percent. The amount you see quoted does not take into account the home owner insurance payment, the PMI insurance, or annual property taxes.
- How much should you be budgeting for each month for a house payment?
- How much should you actually anticipate paying or spending per month on a new home?
The True Home Mortgage Expense Calculator
Your estimated total monthly home payment is going to be, $
.
So, simply put if your combined monthly income is not more than $
you are overspending and should NOT be buying this house!
- Monthly payment is for a thirty year standard fixed rate loan, and does take into account home insurance, annual property taxes, and interest.
- Home monthly payment estimate does not include necessary home repairs, regular home maintenance, and monthly utlities.