Frequently Asked Question

How do I estimate my full monthly payment before making an offer?

By Pam HeinoldBuyer GuideLast Updated:

Quick Answer

Start with a loan estimate from your lender for the specific purchase price. Add an insurance quote — your agent can refer you to local insurance brokers who can estimate both the base policy and wind coverage for a specific address.

Key Takeaways

  • Start with a loan estimate from your lender for the specific purchase price.
  • Add an insurance quote — your agent can refer you to local insurance brokers who can estimate both the base policy and wind coverage for a specific address.
  • Add the property tax estimate from the Escambia County Property Appraiser's website.
  • The sum of those figures, adjusted for homestead exemption in year two, is your realistic full monthly payment.

The Full Answer

Start with a loan estimate from your lender for the specific purchase price. Add an insurance quote — your agent can refer you to local insurance brokers who can estimate both the base policy and wind coverage for a specific address. Add the property tax estimate from the Escambia County Property Appraiser's website. Add any HOA dues. The sum of those figures, adjusted for homestead exemption in year two, is your realistic full monthly payment.

This answer is part of a longer article by Pam Heinold:

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