| Principal & Interest | $2,594 |
| Property Tax | $833 |
| Home Insurance | $208 |
| PMI not required |
| Purchase Price | $500,000 |
| Down Payment | $100,000 |
| Total Payments | $933,980 |
A $500,000 home with a 20% down payment, 6.75% interest rate, and 30 year term results in a mortgage payment of $2,594 before taxes and insurance.
Total Payment: $3,636*
*Includes monthly tax and insurance of $833 and $208, respectively.
PMI is not required when you make a down payment of 20% or more.