Mortgage payment.
One monthly number,
all of it in.
Principal and interest, property tax, insurance, HOA dues and mortgage insurance, added into the payment you would actually make each month.
Run the numbers
What goes into the payment
Principal and interest is the standard amortization formula: the loan amount, the monthly rate and the number of months. Property tax and insurance are divided by twelve because most lenders collect them monthly into an escrow account and pay the bills for you. HOA dues are usually paid to the association directly, but they still come out of the same monthly budget, so they are counted here.
Mortgage insurance is added only when the down payment is under 20 percent, which is when most conventional lenders require it. FHA and VA loans price it differently, so use the figure your lender gives you.
Want a second set of eyes?
Send me the address and your numbers, and I will check them against the real tax bill, HOA budget and recent sales.
Formulas: standard loan amortization. Property tax lookup: Maricopa County Treasurer and Maricopa County Assessor. Your numbers stay in your browser; nothing you type here is sent anywhere.