Profile picture for craigmj

Is the Monthly Payment an Estimated Monthly Mortgage Payment or HOA fees?

In each listing, below the requested price, there is a "monthly payment" field.  Is this the estimated payment for the requested mortgage price or HOA/condo fees.  If they are the mortgage fee, how are they calculated (they seem low in all situations).
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June 10 2010 - Washington
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Answers (2)

Profile picture for Pasadenan
It is just an extrapolated mortgage payment based on 20% down, 30 year fixed, 680+ FICO, Median Zillow Mortgage Market Place rates for the day.

It is just to give you a starting point for comparison.

Median rate being quoted on Zillow now is 4.59%
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June 10 2010
What website are you viewing?  Most mortgage calculators will estimate the price + interest and your actual mortgage will include price+interest+taxes+insurance (PITI) and the HOA and condo fees will be an additional fee.  Hope this helps.

Regards,
Monica
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June 10 2010
 
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