THE RATE SHOP · KANSAS & MISSOURI

What could your monthly payment look like?

Explore a home price, choose a loan type, and see the costs behind the number.

Estimated monthly housing cost—
See breakdown
01 Your home & loan

5% is our starting example. Some eligible buyers can put as little as 3% down.

02 The rest of your monthly budget

Taxes and insurance below are examples, not local quotes. Replace them with the property's tax estimate and your insurance quote.

Private mortgage insurance (PMI) usually applies below 20% down. The 0.50% example is not a quote; credit, down payment, and coverage affect your cost.

No name, email, or credit check required. Calculator entries are not submitted to The Rate Shop.

A useful estimate starts with the whole picture.

What’s included?

Your fixed-rate loan payment, an estimate for taxes and homeowners insurance, applicable mortgage insurance, and HOA dues. Down payment and upfront program fees appear separately.

Why might my actual payment differ?

Your credit, property, loan program, points, and rate lock affect your final terms. Insurance quotes and a property's future tax bill may differ from the seller's current costs.

What should I budget for closing?

Your down payment is only one part. Closing fees, prepaid insurance and interest, and initial escrow deposits can add to the amount needed. Mike can build a property-specific estimate with you.

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How this estimate works & reliable sources

Principal and interest use a standard fixed-rate amortization formula. Annual taxes and insurance are divided by 12. Conventional PMI is your entered annual percentage of the base loan, divided by 12, and is removed from this starting estimate at 20% down. FHA includes a 1.75% upfront premium and first-year monthly mortgage insurance calculated from the scheduled average balance, loan amount, term, and loan-to-value ratio. VA includes an applicable funding fee but no monthly mortgage insurance.

The result is an initial payment estimate, not a lifetime payment projection. FHA insurance may change as the loan balance declines; cancellation rules differ from conventional PMI. This assumes a primary-residence purchase with no subordinate financing and a property value equal to the price. VA eligibility and entitlement, FHA county limits, and conventional loan limits still need review.

Sources: CFPB payment components · HUD mortgage insurance tables · HUD monthly premium method · VA funding fees & exemptions · Fannie Mae low-down-payment options

Reviewed September 29, 2026. Mortgage News Daily averages are editable examples, not The Rate Shop's offered rates or APRs. No rate or approval is guaranteed.