$8,120.58 month

Residential Tax

Residential (or Property) Taxes are a little harder to figure out... the average residential tax rate seems to be around $14 per year for every $1,000 of your property's assessed value. Let's say that your property's assessed value is 85% of what you actually paid for it - $1,164,500.00. This would mean that your yearly residential taxes will be around $16,303.00.

This could add $1,358.58 to your monthly payment.
PMI (Private mortgage insurance)
Since you are putting LESS than 20% down, you will need to pay PMI (Private Mortgage Insurance), which tends to be about $55 per month for every $100,000 financed (until you have paid off 20% of your loan).
This could add $678.15 to your monthly payment.

Payment Calculator

This mortgage calculator can be used to figure out monthly payments of a home mortgage loan, based on the home's sale price, the term of the loan desired, buyer's down payment percentage, and the loan's interest rate.
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