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Por favor, tenga en cuenta que es posible que las comunicaciones futuras del banco, ya sean verbales o escritas, sean únicamente en inglés. Estas comunicaciones podrÃan incluir, entre otras, contratos de cuentas, estados de cuenta y divulgaciones, asà como cambios en términos o cargos o cualquier tipo de servicio para su cuenta. Además, es posible que algunas secciones de este website permanezcan en inglés.
Please be advised that future verbal and written communications from the bank may be in English only. These communications may include, but are not limited to, account agreements, statements and disclosures, changes in terms or fees; or any servicing of your account. Additionally, some sections of this site may remain in English.
Por favor, tenga en cuenta que es posible que las comunicaciones futuras del banco, ya sean verbales o escritas, sean únicamente en inglés. Estas comunicaciones podrÃan incluir, entre otras, contratos de cuentas, estados de cuenta y divulgaciones, asà como cambios en términos o cargos o cualquier tipo de servicio para su cuenta. Además, es posible que algunas secciones de este website permanezcan en inglés.
Please be advised that future verbal and written communications from the bank may be in English only. These communications may include, but are not limited to, account agreements, statements and disclosures, changes in terms or fees; or any servicing of your account. Additionally, some sections of this site may remain in English.
We'll help you estimate a home price to give you a sense of what you can afford as you shop for a new home. Use the calculator below to figure out what size mortgage and monthly payment you might be able to comfortably afford.
All fields are required unless marked optional.
$290,612.20
Annual homeowners insurance
$2,201.52
Annual property taxes
$3,302.28
This estimate assumes annual homeowners insurance is 1% and property taxes are 1.5% of the home value. The actual amount for taxes and insurance may vary depending on your property and location.
Down payment: The amount you pay upfront when buying a home. There are exceptions to this but if you put down less than 20%, you’ll likely have to pay PMI or private mortgage insurance until you’ve paid down a certain amount of the principal.
Principal: The amount you borrow.
Fixed-rate: Fixed-rate means the interest remains the same over the life of the loan.
Variable-rate: Variable-rate means the interest rate can change over the life of the loan.
Secured loan: A secured loan (as opposed to an unsecured loan) is a loan that’s backed (or secured) by an asset (collateral).
Collateral: An asset (such as a home) that serves as security for a loan.
Loan term: The length of a loan. For example, you could have a mortgage term that’s 15 years.
Preapproval: Most sellers want to know you’re preapproved before considering an offer. For a preapproval, you’ll provide documents like paystubs, a W-2, other form of income, a list of assets and information about debts. Lenders will typically perform a credit check. If you’re preapproved, you’ll get a letter saying you’re preapproved to borrow up to a certain amount. This is good for a certain number of days (usually 90).
Mortgage points: Sometimes called discount points, mortgage points are fees paid at closing to lower your mortgage’s interest rate.
Taxes: Property tax payments are typically rolled into your monthly mortgage payment. Lenders hold this money in escrow until taxes are due.
Insurance: Your mortgage agreement may require you to get certain types of insurance, including homeowners insurance, title insurance, flood insurance and private mortgage insurance. For many homeowners, costs like insurance and property taxes are rolled into the monthly mortgage payment and held in escrow.
Closing costs: The costs of closing on a home. This can include things like appraisal, origination fees, real estate commissions, title search fees and attorney fees. Closing fees are usually between 3% and 6% of the home purchase price.
Homeowners Association (HOA) fees: Certain types of homes come with HOA fees that cover things like repairs and maintenance. HOA fees can impact how much you’re able to borrow and what kind of mortgage payment you can afford.
Typically, your mortgage payment is made up of principal, interest, taxes and insurance.
Find out about the most common closing costs and when you'll need to pay them.
Use the numbers you already know to find the ones you don't.
This article is for educational purposes about banking products. It is not intended to provide legal, investment, tax, or financial advice and is not a substitute for professional advice. It does not indicate the availability of any Citi product or service. For advice about your specific circumstances, you should refer to the disclosures financial institutions provide for various products and consult a qualified professional.
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Citi is not responsible for the products, services or facilities provided and/or owned by other companies.
You are leaving a Citi Website and going to a third party site. That site may have a privacy policy different from Citi and may provide less security than this Citi site. Citi and its affiliates are not responsible for the products, services, and content on the third party website. Do you want to go to the third party site?
Citi is not responsible for the products, services or facilities provided and/or owned by other companies.
You are leaving a Citi Website and going to a third party site. That site may have a privacy policy different from Citi and may provide less security than this Citi site. Citi and its affiliates are not responsible for the products, services, and content on the third party website. Do you want to go to the third party site?
Citi is not responsible for the products, services or facilities provided and/or owned by other companies.
You are leaving a Citi Website and going to a third party site. That site may have a privacy policy different from Citi and may provide less security than this Citi site. Citi and its affiliates are not responsible for the products, services, and content on the third party website. Do you want to go to the third party site?
Citi is not responsible for the products, services or facilities provided and/or owned by other companies.