​Keep in mind there are several factors that affect a mortgage rate.  Some of the those include credit score, property type, occupancy, and percentage of down payment-among others.  These factors would have a direct affect on the mortgage rate you ultimately receive.  An online payment calculator is a great tool however it will never be as accurate as what you can discover from a discussion with an experienced loan professional.

 

​Some tips on calculating a monthly mortgage payment

 

Most lenders use 1.25% of the sales price to estimate property taxes on a California home purchase.

 

Home insurance can vary quite a bit based on property location and amenities like home size, age, construction type etc.  Urban subdivision homes will typically have a much lower annual home insurance premium compared to a home located in the high fire risk areas of the California foothills or mountains.  Annual home insurance premiums can range from just under a thousand dollars a year to as much as $6 to $10k or more.  Obtain a quote from a licensed insurance agent as soon as possible to determine a property's annual home insurance premium.

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The conventional PMI that is reflected is an estimate and can be lower or higher based on your unique criteria.  PMI can change based on credit score, loan to value, property type and debt ratio.  Contact us for a conversation and a more accurate estimate of what PMI would look like for you.  Just like our interest rates being lower than almost every other lender, our PMI rates are among the lowest available as well.

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If on a mobile please click here for a link to my calculator page