Monthly principal and interest, plus optional taxes, insurance, and PMI. The same math Samantha runs before sending you to a lender.
Principal and interest is calculated using the standard amortization formula: M = P × r(1+r)^n / ((1+r)^n − 1), where P is loan amount, r is monthly interest rate, and n is total months. Taxes and insurance are divided into monthly equivalents and added to the payment.
PMI is automatically applied when your down payment is under 20% of the purchase price, using the rate you specify. Most Maryland loans see PMI rates between 0.4% and 0.85% per year, depending on credit score and loan-to-value.
This calculator does not include HOA fees, condo fees, or municipal services that some Maryland communities (like the city of Bowie) charge separately. Add those to the monthly total to get a complete picture. For a real lender quote, your final rate and PMI will depend on credit score, debt-to-income ratio, and loan program.
Samantha works with several Maryland lenders and can match you with one that fits your loan profile. Reach out before you make an offer — pre-approval is non-negotiable in this market.
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