TN Home IQ

Home Purchase Calculator

Analysis updates as you type.

I'm also selling a home
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$
The price you plan to offer
$
Check county assessor records
$
Used to calculate prepaid interest and prorated taxes
%
Negotiated in contract
%
Negotiated in contract

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Mortgage & escrow

Monthly payment breakdown for $485,000 purchase

Total monthly PITI
$3,497
Principal · interest · tax · insurance
Loan amount
$412,250
LTV 85% — PMI required
Down payment
$72,750
15.0% of purchase price
Principal & interest$2,708
Property tax (monthly escrow)$350
Homeowners insurance (monthly escrow)$267
PMI — drops when LTV reaches 80%$172
Total monthly payment$3,497
Annual total (PITI)
$41,960
Interest rate
6.875%
Loan term
30 yrs