The number that actually decides it
Homes get compared on asking price, but they get afforded by the month. A cheaper home with heavy HOA dues can cost more to hold than a pricier one without; every Kouzr listing page runs this same arithmetic beside the price so the comparison is honest.
What is in the payment
| Line | What it is | Default here | What moves it |
|---|---|---|---|
| Principal and interest | The loan itself, amortised over the term. | 6.5% over 30 years | About 10% per point of rate at 20% down |
| Property tax | Assessed value (35% of taxable) times the district rate, then abated. A buyer's first bill resets to the full amount. | 0.6% of price a year | District rate and the abatement cap |
| Homeowners insurance | The hazard policy the lender requires. Roof age and claims history set it. | 0.35% of price a year | Roof age, pool, prior claims |
| Mortgage insurance (PMI) | Charged while the down payment is under 20%, until equity reaches 20%. | 0.6% of the loan a year | Down payment and credit score |
| HOA dues | Whatever the association charges, every month, whatever the loan does. | From the listing, or zero | The association's budget, and its reserves |
Defaults are Clark County, Nevada figures on the conservative side. The tax line is explained in the county record guide.
Three things that change it most
The rate
At 20% down, one point of interest moves the payment by roughly a tenth. Shop it; a quarter point is real money over thirty years.
Crossing 20% down
The one threshold worth stretching for: it removes mortgage insurance outright, which on a $400,000 home is about $160 a month.
The dues
HOA dues never amortise and never end. $200 a month carries the same weight as roughly $30,000 of price at today's rates.
Deciding whether to buy at all? The rent vs buy calculator takes this monthly figure and a comparable rent and says the year buying pulls ahead.
Questions people ask
Why is my quoted payment different from the bank's?
Most quotes show principal and interest only. Taxes, insurance, mortgage insurance, and HOA dues arrive on the same day of the month regardless; this calculator folds them in, with each assumption editable.
What is PMI and when do I pay it?
Private mortgage insurance: a charge lenders add when the down payment is under 20%. It typically runs 0.3% to 1.5% of the loan per year and drops off once enough equity builds. The calculator applies it under 20% down and removes it at 20% equity.
Are the tax and insurance defaults right for me?
They are conservative Clark County, Nevada defaults: property tax near 0.6% of price and insurance near 0.35%. Other states differ a lot; edit them to your county's numbers. The county record guide walks the Nevada tax math, and why the seller's bill is lower than yours will be.
How much house can I afford?
Lenders usually cap the all-in monthly payment near 28% of gross income and total debts near 36% to 43%. Work backwards: your income times 0.28, divided by twelve, is the monthly figure this calculator should land under, dues included.
Does a bigger down payment always lower the payment?
It lowers the loan, so principal and interest fall, and crossing 20% removes mortgage insurance, which is the one threshold worth stretching for. Past 20%, every extra dollar down is a dollar not invested elsewhere; the rent vs buy calculator gives that money credit.
Estimates from editable assumptions, not a loan offer or a quote. Rates, premiums, and taxes for a specific home and borrower come from lenders and the county, not a calculator.