YOUR MORTGAGE, MADE SIMPLE
Know the numbers. Love the possibilities.
Buying a home is exciting. Understanding the full monthly cost should feel simple, too. Explore conventional and FHA options, compare payments, and learn what makes up your mortgage—at your own pace.
Try the calculatorFree to use · No email required · Personalized estimates in seconds
STEP 01 · YOUR NUMBERS
Let’s see what homeownership could look like.
Start with a few numbers. Your payment, mortgage insurance, cash needed, and program comparison update instantly as you make changes.
Your purchase
Planning estimate · not a lender quoteExample rates only. Enter the rate provided by your lender. The public rate widget below does not automatically price your loan.
Monthly costs
Advanced estimates and closing costs
These are planning assumptions. PMI depends on credit, LTV and insurer. Taxes and insurance require property-specific quotes. Closing costs are not a lender Loan Estimate.
Conventional vs FHA at a glance
Both scenarios use the same purchase price, down payment, term and the program-specific rates you enter. If the down payment is below FHA’s standard 3.5% minimum, the FHA comparison uses 3.5%. Mortgage insurance is an estimate.
Conventional
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FHA
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Interest rates are entered manually. Your actual approved rate, APR and lender costs can differ.
STEP 02 · UNDERSTAND THE MARKET
Today’s mortgage rates, in context.
See the latest national mortgage-rate indices below. These are published market benchmarks, not personalized financing offers or a commitment to lend.
Live national mortgage-rate index
Also see Freddie Mac’s weekly survey (updated weekly)
7-day, weekly and monthly comparisons
Our custom historical table is awaiting licensed daily historical-data access. We will display verified observations and precise publication dates rather than inventing prices. For now, explore the up-to-date rate charts in the embedded source widget.
| Loan program | Latest | 7 days ago | 1 month ago |
|---|---|---|---|
| 30-year fixed | — | — | — |
| 15-year fixed | — | — | — |
| 30-year FHA | — | — | — |
Daily data is not necessarily published on weekends or holidays. A rate change of 0.10 percentage points equals 10 basis points.
STEP 03 · MAKE SENSE OF YOUR PAYMENT
What’s actually included in a mortgage payment?
Your lender’s principal-and-interest payment is only part of the story. Taxes, homeowners insurance, mortgage insurance and HOA fees can change the actual monthly cost significantly.
Principal + interest
Pays back the money borrowed and the cost of borrowing. Your principal share generally rises over time on a fixed-rate loan.
Property taxes
Usually collected with escrow, but based on the property and buyer—not necessarily the seller’s old tax bill.
Homeowners insurance
Protects the home against covered losses. Flood/wind coverage may require additional premiums in Florida.
Mortgage insurance
Conventional PMI and FHA MIP use different rules. Some types can end; others may remain for most or all of the loan term.
HOA / condo
Community fees and assessments are generally separate from the lender’s mortgage payment but still part of the monthly housing budget.
A personalized breakdown—not a made-up “typical percentage”
The calculator above calculates your own percentage mix. There is no reliable universal split because taxes, insurance and HOA charges vary dramatically by property.
The other big number: cash to close
Beyond your down payment, plan for lender and title charges, prepaid taxes and insurance, escrow deposits, points, and possible Florida recording or mortgage taxes. Actual costs and credits belong in your Loan Estimate.
LEARN WITHOUT THE JARGON
Questions buyers ask me most
Clear answers now; a conversation whenever you’re ready. No pressure.
What is PITI?
It stands for principal, interest, taxes, and homeowners insurance. Mortgage insurance and association dues may also add to the full housing cost.
What’s different about FHA and conventional?
FHA loans are federally insured and have specific upfront and annual MIP requirements. Conventional loans use other eligibility and PMI rules. Compare total payments and cash to close, not just the rate.
Can I remove PMI?
On many conventional loans, PMI may be canceled once certain equity and other requirements are satisfied. FHA has separate rules: annual MIP generally lasts 11 years when the starting LTV is 90% or less, or for the loan term when it is higher.
Why might my property taxes go up after closing?
The seller’s tax bill may include exemptions or assessed-value caps that do not transfer to you. Estimate taxes using your own purchase assumptions and Miami-Dade’s official tool.
What does APR mean?
APR includes interest plus certain borrowing charges, and can be useful when comparing different Loan Estimates. The note rate alone does not describe every loan fee.
What is the difference between qualifying and feeling comfortable?
Lenders review income, debts, credit, and other criteria. Even when you qualify for a maximum amount, your own monthly budget and goals may suggest buying below that amount.
What if I am buying a condominium?
Include HOA dues, property-specific insurance, and special assessments. Your lender must also check project financing eligibility, including FHA approval where applicable.
Will this calculator preapprove me?
No. It is an educational budgeting tool, not a review of your income, credit, property, program eligibility, or mortgage application.
Helpful official resources
2026 Miami-Dade one-unit reference limits: $832,750 conventional conforming and $667,000 FHA. Other property types/counties may differ. These are maximum base loan amounts, not maximum home prices.
MARIELA FLORES, P.A.
Buying or selling? Knowledge makes every next step easier.
I’m happy to help you review a payment estimate, compare loan options, or understand what to ask your lender.
Talk with Mariela