Home Buying True Cost Calculator
The mortgage is just the beginning. See your complete Year 1 cost — closing costs, PMI, property taxes, insurance, HOA, and maintenance — broken down by item, percentage share, and monthly equivalent.
Purchase Details Loan structure
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US median: $419,300 (NAR Q1 2026) First-time buyers avg: 6–8%. ≥20% eliminates PMI.
30-yr national avg: ~6.85% (Freddie Mac, Jun 2025)
15-yr saves ~40% total interest but costs ~30% more monthly.
Closing Costs One-time at settlement
National range: 2–5% of loan. Ask about seller concessions.
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Home inspection: $300–500. Appraisal: $300–600. Never skip. Ongoing Annual Costs Recurring expenses
US avg: 1.07%. NJ highest (2.47%), HI lowest (0.29%).
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US avg: $1,687/yr ($140/mo). Higher in FL, TX, LA. Applies if down payment <20%. 0.5–1.5% typical. Auto-zero if ≥20% down.
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US avg for condos/townhomes: $200–300/mo. Zero for most single-family. 1% rule — older homes or harsh climates: use 1.5–2%.
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Local move: $800–2,500. Long-distance: $2,000–10,000. Plus appliances, blinds, etc. Year-One True Cost of Buying
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beyond mortgage principal repayment · updates instantly
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Full Year-One Cost Breakdown
Data sources & methodology:
Closing cost rates from CFPB Loan Estimate data and lender surveys. Property tax rates from Tax Foundation 2024.
PMI rates from Urban Institute. Maintenance estimates from Harvard Joint Center for Housing Studies.
Results are estimates for informational purposes only — not financial or legal advice.
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🔒 Calculations run 100% in your browser — we never see your numbers 📊 Built on primary-source data (see sources above) 🔄 Reviewed 2026 · methodology · disclaimer