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| The total amount you would be borrowing to purchase the home. |
| The annual interest rate you expect to pay on this mortgage. You can enter the rate either as a percentage (8.25) or as a decimal (.0825), whichever you prefer. |
| The number of years you will be financing the home loan for. |
| The annual property tax payment you expect to pay. As a rule of thumb, you can expect to pay 1.1% (home price X .011) of the purchase price per year. |
| The annual homeowner's insurance payment you expect to pay. As a rule of thumb, you can expect to pay 1.5% (home price X .015) of the purchase price per year. |
| The monthly Private Mortgage Insurance (PMI) you expect to pay. If your downpayment is less than 20% of the value of the home you are buying, you may be required to pay mortgage insurance of somewhere between 0.02% and 0.07% of your principal balance each month (e.g, principal balance X .00043). |
| This is how much your monthly principal and interest payment will be. |
| This is the total of your other monthly payments (taxes, insurance & PMI). |
| This the total of all monthly payments related to your mortgage. |
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