Down Payment: $
Mortgage amount after down payment: $
Monthly Payment: $ (Principal and Interest Only)
Since Principal and Interest are not the only factors of a loan we should include an estimate for PMI, Taxes and Insurance. An average tax figure for your home could be about $10 for every $1000 assessed value. If the assessed value of your home is 85%, this would make your home's assessed value $ , and your monthly tax $. Your down payment was less than 20% of the loan which means you will be paying PMI. This averages around $ for every $100,000 borrowed. An estimate for PMI will be around $ per month.

With PMI, Taxes, and Homeowners Insurance ($ average) your payment would be close to $. Since you are putting down 20% or greater, you will not have to pay PMI. So, your monthly payment with taxes and estimated homeowners insurance ($) would be around $.