Your monthly payment.

The monthly payment is the sum of principal & interest (P&I) on the loan, plus property tax (illustrated at 1.10% of the home value annually, the US median per Tax Foundation data), plus homeowners insurance (default $1,800/yr per NAIC), plus PMI when the down payment is less than 20% (auto-tiered between 0.32% and 0.85% based on LTV), plus any monthly HOA.

Principal & interest uses the standard amortization formula P × r(1+r)^n / ((1+r)^n − 1), where r is the monthly rate and n is the number of monthly payments. The result is illustrative; a licensed loan officer can produce a Loan Estimate with actual rate, fees, and qualifying terms.

HOA dues are property-association fees common to condos, townhomes, co-ops, and planned communities. Typical ranges: $0 for detached single-family in non-HOA neighborhoods; $200–$500 for suburban townhomes and condos; $400–$1,500 for urban condos in dense markets; $1,000–$3,000+ for NYC co-ops, luxury high-rises, and SF buildings with amenities or live-in staff. In high-cost cities, HOA can rival the property-tax line and is the single biggest input most buyers underestimate. The total above includes the monthly HOA from the input, but does not include maintenance reserves, capital improvements, or one-time HOA transfer / move-in fees at closing. The rent-vs-buy calculator at /tools/rent-vs-buy includes a maintenance reserve in its full cost-of-ownership comparison.

Modeled loan products: conforming fixed-rate, 5/1/7/1/10/1 ARM, interest-only, FHA fixed, and VA fixed. Jumbo recognition is in progress; HELOCs, USDA, balloon, and reverse mortgages are out of scope. A licensed mortgage professional can model loan products that are not represented here.