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Single‑family communities often range $200–$300/month, townhouses $250–$350, and condos $300–$450+. Luxury buildings can exceed $500–$1,000/month depending on amenities and location.
Read moreMany HOAs raise fees ~2%–4% annually to track inflation and rising maintenance costs. Aging buildings, insurance surges, or underfunded reserves can push increases higher.
Read moreGenerally no for primary residences. For rental properties, HOA dues are usually deductible as an operating expense—confirm with a tax professional.
Read moreOne‑time charges for major projects (e.g., roof, elevator). These can be $1,000–$25,000+ per unit depending on scope. Review reserve studies and financials to gauge risk.
Read moreCheck reserve fund level (target 50%–100% of annual budget), fee increase history (2%–3% typical), recent assessments, insurance costs, and maintenance backlog.
Read moreYour monthly mortgage payment consists of four components (PITI): Principal (the loan amount you're paying down each month), Interest (the cost of borrowing from the lender), Taxes (annual property...
Read morePMI (Private Mortgage Insurance) protects lenders if you default and is required if your down payment is less than 20%. You can avoid PMI by putting down 20% or more, using a piggyback loan, or cho...
Read moreA 30-year mortgage has lower monthly payments ($2,661) but costs $558,000 in total interest, while a 15-year mortgage has higher payments ($3,595) and costs $247,000 in interest, saving you $311,00...
Read moreMortgage points (also called discount points) are prepaid interest—each point costs 1% of the loan amount and typically lowers your rate by 0.25%. On a $400,000 loan, 2 points ($8,000) might drop y...
Read moreClosing costs typically range from 2-6% of the loan amount. On a $400,000 loan, expect $8,000-$24,000 (average around $16,000). This includes: lender fees ($1,000-$3,000 for origination, underwriti...
Read moreUse the cost-of-waiting module to compare rent paid while waiting against changes in home price, interest rate, and equity foregone. In flat markets, waiting can save if rates fall; in appreciating...
Read moreConventional lenders target total debt-to-income ≤ 43% (often 36% preferred). With stable income and strong credit, some approve up to ~45–50%. This tool lets you tune DTI, down payment, taxes, and...
Read moreEquity builds from principal paydown and appreciation. Even at 0% appreciation, a 30‑year mortgage pays down ~20% of principal by year 7. With 3% annual appreciation, 5‑year equity can exceed 20–30...
Read moreDownsizing can cut monthly costs (taxes, insurance, utilities) and unlock equity. If payment drops ≥ 20% or you free up >$100k equity, the breakeven versus transaction costs (typically 8–10% to sel...
Read moreProperty taxes, insurance, HOA, and commute costs vary by location. Comparing seemingly similar homes across ZIP codes can change monthly costs by hundreds of dollars—use the comparison view to see...
Read moreA home loan calculator works for all major loan types: Conventional loans (standard mortgages from banks with 3-20% down), FHA loans (government-backed loans with as little as 3.5% down, ideal for ...
Read moreTo effectively compare loan scenarios, hold most variables constant and change one at a time. Start by calculating a baseline scenario with your expected home price, down payment, and current inter...
Read moreAn amortization schedule is a detailed table showing every payment over the life of your loan, breaking down how much goes to principal versus interest each month. It's important because it reveals...
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