Price of home

Purchase price of the home you wish to buy.

 

Down Payment

Cash you have for the down payment to apply to the purchase price.

Interest rate

The current interest rate you can receive on your mortgage.

Term in years

The number of years over which you will repay this loan.

Property tax rate

Your property tax rate. Approximately 1.5% of the house appraised value.

Home insurance rate

Your homeowner's insurance rate. 0.5% for a $100,000 home equals $500 per year for homeowner's insurance.

Investment return

Annual percentage return you would receive if you invested your closing costs and down payment instead of purchasing a home.

Monthly rent payment

Amount you currently pay for rent per month.

Income tax rate

Your current marginal income tax rate.

 

Home property appreciates at

Annual appreciation you expect in the home you are purchasing.

OTHER COSTS NOT INCLUDED IN ABOVE CALCULATIONS

Loan origination rate

The percentage the lending institution charges for its origination fee. 1% for a $100,000 home equals $1,000.

Points paid

The total number of points paid to reduce the interest rate of your mortgage. Each point costs 1% of your mortgage balance.

Other closing costs

Estimate of all other closing costs for this loan. This should include filing fees, appraiser fees and any other miscellaneous fees paid.

Total closing costs

Total upfront costs to close your loan. This is the sum of the loan origination fee, amount paid for points and other closing costs.

 

Future sales commission

The percent of your homes selling price you expect to pay to a broker or real estate agent when you sell your home.

Information and interactive calculators are made available to you as self-help tools for your independent use. We cannot and do not guarantee their accuracy or their applicability to your circumstances. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues