Calculator · Buying
Palm Beach County mortgage calculator
Short answer
Your monthly payment is principal and interest plus property taxes, homeowners insurance and any HOA or condo fee. In Florida a home’s taxable value resets after it sells, so estimate taxes from the purchase price, not the seller’s bill, and get an insurance quote before you set a budget.
Your numbers
Use the rate from your lender’s quote. The tax and insurance figures are starting assumptions; replace them with the city’s millage and a real insurance quote.
Estimated monthly payment
$4,523
30-year fixed at 6.25%, 20% down
- Principal and interest
- $3,202
- Property tax
- $921
- Homeowners insurance
- $400
- HOA or condo fee
- $0
- Loan amount
- $520,000
- Down payment
- $130,000
Income lenders usually look for
About $194,000 a year
Housing costs at 28% of gross income. Lenders also count your other debts.
Doesn’t include private mortgage insurance, which lenders usually require with less than 20% down, or flood insurance. Estimate only, not a loan quote or financial advice.
Explained
What goes into a Palm Beach County payment
How much are property taxes on a new purchase?
It depends on the city’s millage rate and whether you qualify for homestead. Florida resets a home’s assessed value to market value after it sells, so budget from your purchase price rather than the seller’s tax bill.
How much is homeowners insurance in Palm Beach County?
Premiums depend on the home’s age, roof, windows and distance from the coast. A wind mitigation inspection can lower the wind portion of the premium, so get quotes before you commit to a price.
Do I need flood insurance?
If the home is in a FEMA high-risk zone (A or V) and your mortgage is federally backed, your lender will require it. Outside those zones it’s optional but worth pricing.
How much house can I afford?
Many lenders look for total housing costs under about 28% of gross monthly income and all debts under about 36%, though loan programs vary. A lender’s pre-approval gives you the real number.
Found a home you like?
Oleg will pull the comps before you write an offer, so you know what it’s worth.