Figures last checked:
Calculate your monthly cost
Estimated monthly cost
$5,549
- Loan payment
- $4,671
- Property tax
- $878
- Home insurance
- Not included yet
- Condo or association fee
- $0
- Loan amount
- $680,000
- Down payment
- $170,000
- Closing costs (2% to 5%)
- $17,000 to $42,500
- Cash needed at closing
- $187,000 to $212,500
- This loan is within the 2026 conforming limit of $962,550 for this area.
- Home insurance is not in the total until you enter a quote. In coastal areas it can be a large part of the monthly cost.
The starting example is an $850,000 home in Boston with 20% down at 7.32%, the Freddie Mac 30-year average for the week of 22 October 2026. Change any field to match your plans. This is an estimate for planning. It is not a loan offer, and it leaves out the items listed under "What is not included" below.
Three worked examples
The same sums for three typical situations, each at 7.32% over 30 years and before home insurance. They show how much the place changes the answer.
| Example | Loan | Loan payment | Property tax | Monthly total | Cash at closing |
|---|---|---|---|---|---|
| Boston flat, $850,000, 20% down | $680,000 | $4,671 | $878 | $5,549 | $187,000 to $212,500 |
| Orlando house, $439,000, 25% down (county average tax) | $329,250 | $2,262 | $300 | $2,562 | $118,530 to $131,700 |
| Philadelphia row house, $400,000, 10% down | $360,000 | $2,473 | $467 | $2,940 | $48,000 to $60,000 |
The Philadelphia example has less than 20% down, so private mortgage insurance would be added to the monthly total, and the city's transfer tax would add to the cash needed. The Orlando figure uses the county's average tax, which understates what a new non-resident owner pays.
How to read the result
Loan payment. Principal and interest on a fixed-rate loan that is fully repaid over the term. On a 30-year fixed loan this amount never changes.
Property tax. Charged by the town, city or county as a percentage of assessed value, and usually collected by your lender each month into an escrow account. It can rise each year. In Florida it is reset to your purchase price after you buy.
Home insurance. Required by every lender. We leave it at zero until you enter a quote, because premiums differ too much between an inland flat and a house on the coast to guess. Flood insurance, where needed, is a separate policy.
Cash needed at closing. Your down payment plus closing costs of typically 2% to 5% of the price. Lenders following Fannie Mae's rules need funds from abroad to be converted into dollars and held in a US account before closing, so plan the transfer early.
Conforming or jumbo. Loans up to the local conforming limit can be sold to Fannie Mae and Freddie Mac and are the standard product. Larger loans are jumbo loans, priced by each lender on its own terms.
What is not included
- Private mortgage insurance, usually charged with less than 20% down on a conventional loan.
- Flood insurance and separate wind cover, which matter most in Florida and on the New England coast.
- Community Development District assessments in some Florida communities.
- Local taxes at purchase beyond ordinary closing costs, such as land bank fees, transfer taxes and New York's mortgage recording tax.
- Utilities, heating and maintenance.
- The effect of your immigration status on which loans and rates are open to you.
That last point matters most. A buyer who lives in Europe will usually be offered a foreign national loan with a larger down payment and a higher rate than the average used here. See how your status decides the loan, then pick your area in the location guides for the local costs.
Questions people moving from Europe ask
Continue your research
Sources (14)
Figures and rules on this page were checked against these sources on 3 October 2026. Rates, prices and local rules change, so confirm anything you rely on before you commit.
- Freddie Mac Primary Mortgage Market Survey (30-year fixed average)
- CFPB, what makes up a monthly mortgage payment
- CFPB, figure out how much you want to spend (closing costs of 2% to 5%)
- CFPB, what is private mortgage insurance
- FHFA, conforming loan limits for 2026
- Massachusetts Division of Local Services, tax rates by class (fiscal year 2026)
- City of Providence, fiscal year 2026 approved ordinance book
- Tax Foundation, property taxes by state and county (Florida counties)
- DC Office of Tax and Revenue, real property tax rates
- Arlington County, fiscal year 2027 budget adoption
- City of Alexandria, tax rates
- Fairfax County, real estate tax rates
- Loudoun County, property tax rates
- City of Philadelphia, Real Estate Tax
Who made this guide. Bas Terpstra makes, reviews and approves every guide, using AI tools and public sources as a starting point. Rules and figures change, so treat this as general information and confirm the details for your own situation.
This page is general information, not personal financial, legal, tax or immigration advice. Nothing here is an offer, and no rate, loan amount, approval or visa outcome is promised. Mortgage availability is subject to immigration status, income, credit, appraisal and lender criteria, and lending, tax and local rules change. Consult a licensed US lender, an immigration attorney and a cross-border tax adviser. Any property securing a loan may be at risk if payments are not made.