Please see the website below to determine what your home payment will be, how much you can afford, and how much you can borrow. Your monthly mortgage payment is comprised of principle, interest, taxes and insurance (PITI). A good estimate for principle and interest is $600.00 per $100,000 financed. In general a good estimate for property taxes is 1.2% of the property cost. A good estimate for home owners insurance is .25% of the cost. For example financing $300,000 will have approximately the following monthly payment:
Principle and interest: $1,800,00
Taxes: $300.00
Insurance: $62.50
Total monthly payment: $2,162.50
To calculate your loan amount please click the link below.