Total Monthly Homeownership Cost Calculator
Mortgage payment is the number buyers quote; total cost of ownership is the number they live with. This calculator adds maintenance, repairs, and utilities to the loan payment.
Estimated total monthly cost
$4,149
Loan payment plus taxes, insurance, upkeep, and utilities.
- Principal & interest
- $2,781
- Property taxes
- $504
- Homeowners insurance
- $125
- PMI
- $0
- HOA fees
- $0
- Maintenance reserve
- $458
- Utilities
- $280
- Annual total
- $49,783
Breakdown
What this means
The loan payment is $2,781, but the full monthly cost of this home is closer to $4,149 once taxes, insurance, upkeep, and utilities are included — about 49% on top of the mortgage.
Maintenance is lumpy: nothing for months, then a roof or a water heater. Budgeting it monthly is a planning convenience, not a prediction of any given year.
How this calculation works
- Principal and interest come from the loan amount, rate, and term.
- Maintenance is estimated as an annual percentage of home value — 1% is a common rule of thumb.
- Utilities and HOA dues are entered directly, since they vary enormously by home and region.
All results are estimates based on the assumptions you enter. RE View does not provide financial, tax, or lending advice.
Related calculators
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Homeowners Insurance Calculator
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Related guides
- What Costs More: Renting or Owning?
A category-by-category cost comparison of the two housing paths.
- What Should You Consider Before Buying a Home?
A practical readiness checklist covering money, timing, and the property itself.