Mortgage Calculator Feature 2: Break Down Your Monthly Payment
Part of your monthly payment goes to reducing the principal on your loan and the rest goes to mortgage interest, homeowner’s insurance and other costs.
In this example, the insurance is $900, property tax rate is 1.2%, and HOA dues are $100 per month. Those additions push the monthly payment up by $425. You need all the details to know what you will owe and whether a given mix of house and loan rate is affordable.