| This Calculator is for here for estimates only. |
|
| It is not going to adjust for all circumstances. Please contact me for references to lenders who can be much more specific to your individual needs. |
The payment amount from the base of $200,000 includes a default setting for Property Taxes and
Mortgage Insurance. |
| You need to add for Homeowners Insurance to the payment amount displayed. |
|
| What is PMI ? |
"Private Mortgage Insurance" is generally requried by lenders on loans with less than
20% down payment, an amount to partially account for this is included in the calculators default settings. |
If you are putting 20% or more down
you can change this setting to zero. |
| |
|
| What else about PMI ? |
On FHA loans there is also a monthly PMI amount charged and this has not been factored into this calculator. It will add to the monthly payment. |
| |
|
| |
