Two homes can carry the same list price and cost thousands apart every month. Enter up to three and see the real numbers side by side — full monthly payment, cash you'd need at the table, and the equity you'd have built by the time you move on.
Estimates only, not a loan offer or guarantee. Payments assume the rate, term and fees shown and do not constitute a rate lock or pre-approval. Actual taxes, insurance, HOA dues, mortgage insurance and closing costs vary by property and lender. Appreciation is a projection, not a promise; property values can fall. Confirm all figures with your lender and title company. Jennelle Galetta and Samson Properties do not provide legal, tax, or accounting advice.
Samson Properties · 2448 Holly Ave #100, Annapolis, MD 21401 · 667-458-7100 · Equal Housing Opportunity
The monthly figure is the real one. Most calculators quote principal and interest only. This one adds property tax, homeowners insurance, HOA dues and mortgage insurance, because that is what actually leaves your account each month.
Mortgage insurance. Conventional loans add PMI when you put less than 20% down, and it can usually be removed once you reach 20% equity. FHA charges 1.75% upfront plus an annual MIP that generally lasts the life of the loan. VA loans carry no monthly mortgage insurance at all — instead there is a one-time funding fee of 2.15% (first use, under 5% down), 1.5% at 5% down, or 1.25% at 10% down, rising to 3.3% for subsequent use under 5% down. Veterans receiving disability compensation are exempt.
Financed fees. The VA funding fee and FHA upfront MIP are added to the loan balance rather than paid in cash, which is how they are normally handled. That is why the loan amount can exceed the purchase price minus your down payment.
Equity is gross, not net. The equity figure is projected value minus remaining loan balance. It does not subtract the cost of selling — commission, transfer taxes and closing costs — which typically run 8–10% of the sale price. To see what you would actually walk away with, run the numbers through the Net Seller Proceeds calculator.
Appreciation is an assumption, not a forecast. The default of 3% per year is a long-run national average. Markets vary, and values can decline. Try a lower number and see whether the comparison still holds.
I'll tour any of these with you, pull the real tax and HOA figures, and tell you what the inspection is likely to find.