Buyer's guide
What you'll actually need up front — and pay each month
Change any number and the results update instantly. These are good-faith estimates to help you plan, not a loan approval or a rate quote.
Your numbers
Central Florida property taxes often land near 1% of the home's value a year, and home insurance has been running roughly $2,000–$3,000 a year for many homes here. Both vary a lot by property — type in real figures when you have them.
Down payment
10% of $450,000
Cash for your down payment
$45,000
Loan amount
What you'd borrow from the lender.
$405,000
With less than 20% down, lenders usually add mortgage insurance (PMI) — about $169 a month here. It comes off once you've built 20% equity. Putting 20% down removes it entirely.
Closing costs
Estimated at 3% of $450,000
Estimated closing costs
$13,500
Total cash to close
Down payment plus closing costs.
$58,500
What's inside that estimate
- Lender origination fee — About $4,050 (1% of the loan)Varies by lender — always compare offers.
- Owner's title insurance — About $2,250In Florida the seller usually covers this; sometimes it's negotiated.
- Lender's title policy — About $250Required by your lender.
- Appraisal — About $550The lender orders it; you pay for it.
- Credit report — About $50Charged by the lender.
- Recording & county stamps — About $300Florida charges a documentary stamp fee on the mortgage.
- Escrow / settlement fee — About $500Set by the closing office.
- Home inspection — About $450Optional, but I never let a buyer skip it.
Prepaid items (the first year of insurance and a few months of escrow taxes) sit on top of this and depend on your closing date.
Closing costs are often negotiable. Sellers in this area sometimes pay a portion, and some loan programs let closing costs roll into the loan. Ask me before you sign anything.
Monthly mortgage payment
Principal & interest
6.5% for 30 years on $405,000.
$2,560
Property tax
Roughly 1% of $450,000 a year.
$375
Home insurance
$2400 a year.
$200
Mortgage insurance (PMI)
Ends at 20% equity.
$169
Estimated total monthly payment
$3,304
Excludes HOA dues, water/sewer, trash and cable.
Where this leaves you
A lender's comfort line is usually a housing payment under about 31% of your gross monthly income. At $3,304 a month, that points to gross household income near $127,882 a year.
Want real numbers? I'll send you a shortlist of lenders worth talking to, or you can email me at agneskimathillc@gmail.com.
Ask me about your situationBefore you tour a single home
Get pre-approved first. It tells you the real number to shop with, and it tells sellers you're serious. Then use the guides below to keep your search organized.
These calculators are for planning only. They don't reflect your credit, your lender's final fees, rate changes, escrow adjustments, or taxes and insurance reassessed after purchase. No loan is offered or approved here.