Quick answer: In this example, the estimated true monthly cost is about $4,936, front-end DTI is 34.0%, back-end DTI is 40.3%, and leftover cash is about $364.
Home price$525,000
Loan amount$446,250
True monthly cost$4,936
Leftover cash$364
Assumptions
- Down payment: 15%
- Interest rate: 6.75%
- Loan term: 30 years
- Property tax estimate: $9,000/yr
- Insurance estimate: $2,400/yr
- Utilities: $450/mo
Interpretation
This is an illustrative example. Replace the assumptions with your own scenario in the calculator.
Open this scenario