First-Time Homebuyer Cost Calculator
The mortgage payment is never the whole number.
First-time homebuyers frequently anchor on the mortgage principal-and-interest payment as 'the monthly cost,' only to discover the real total is meaningfully higher once property tax, homeowners insurance, private mortgage insurance (PMI, required under 20% down), and any HOA fees are added — and the upfront cash needed includes closing costs on top of the down payment itself. This calculator computes the complete picture: real monthly PITI (principal, interest, taxes, insurance) plus PMI and HOA where applicable, and total cash needed at closing including estimated closing costs.
- →Calculates complete monthly cost — principal, interest, taxes, insurance, PMI, and HOA — not just P&I
- →Automatically includes PMI when down payment is under 20%, using a commonly-cited estimate
- →Calculates total cash needed at closing, including estimated closing costs beyond the down payment
- →Uses real amortization math for the principal and interest component
- →Watermarked by Cikal Studio Labs · Works on any device, no install required
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