The monthly cost of owning a home

Enter the price, the down payment, the rate and the term. Then add the yearly and monthly costs that come with the house. The calculator shows the principal and interest, the tax and insurance, the HOA dues, the upkeep and utilities, and the total a month.

Where to find your numbers

• Price. Enter the purchase price, or the price you're considering.
• Down payment. Enter the cash you'll put down. The calculator borrows the rest.
• Rate. Enter the interest rate from the lender's Loan Estimate.
• Years. Enter the loan's term in years. Most fixed-rate mortgages run 15 or 30 years.
• Property tax a year. Enter the yearly tax. Your local government sets it, not the lender, so check the lender's figure with the local tax office.
• Insurance a year. Enter the yearly homeowners insurance premium, from the policy or the insurance company.
• HOA a month. Enter the association's monthly dues, or zero if there's no HOA. If the dues are billed quarterly or yearly, divide them down to a month. The seller or the association can tell you the current amount.
• Upkeep a year. Enter what you expect to spend a year on maintenance and repairs. Your own records, or the seller's, are the best guide for this house.
• Utilities a month. Enter the monthly total for power, gas, water, trash and internet. For a steady monthly figure, average a full year of bills.

What the figures mean

Principal and interest is the monthly loan payment: the amount borrowed and the lender's charge for lending it. Tax and insurance is a month's share of the two yearly bills. Many lenders collect these through an escrow account as part of the monthly payment. If they aren't, you pay them yourself, often in large lump sums.

Upkeep and utilities is a month's share of the upkeep plus the utilities. Total a month adds every line, the HOA dues included.

What it leaves out

Mortgage insurance isn't in the calculator. If your loan has it, the Loan Estimate shows it as part of the monthly payment, so add it to the HOA line to see the full figure. Closing costs and moving costs aren't counted either, and neither is the furniture or the repairs a house needs in its first months. Neither are changes over time. Tax and insurance can change from year to year, so the monthly payment can change too.