Should I Rent or BuyThe true cost of owning a home
The mortgage payment is only part of the bill. Here is each cost, whether you get it back, and where to find a real number.
| Cost | Recoverable? | Where to get a real number |
|---|---|---|
| Principal | Yes, as equity when you sell | Loan Estimate, amortization schedule |
| Interest | No | Loan Estimate from each lender |
| Property tax | No | County assessor or the listing’s tax history |
| Homeowners insurance | No | Quotes from insurers for the address |
| PMI | No | Loan Estimate, page 1 (monthly) or page 2 (up front) |
| HOA dues | No | HOA budget and disclosures |
| Maintenance and repairs | Partly, if they add value | Home inspection report, age of roof and systems |
| Closing costs | No | Loan Estimate and Closing Disclosure |
| Selling costs | No | Agent agreement, transfer taxes where they apply |
The CFPB says a PMI premium appears on page 1 of the Loan Estimate and Closing Disclosure when paid monthly, and on page 2 when paid up front.1
Questions
What costs come with owning besides the mortgage?
Property tax, homeowners insurance, maintenance and repairs, HOA dues where they apply, private mortgage insurance on a small down payment, utilities a landlord may have covered, and closing and selling costs.
How much should I budget for maintenance?
There is no official figure. Many budgets use a percentage of home value per year; the calculator’s example uses 1 percent. Older homes, larger homes, and harsh climates usually need more.
- CFPB, “What is private mortgage insurance?”, https://www.consumerfinance.gov/ask-cfpb/what-is-private-mortgage-insurance-en-122/, read November 11, 2026. ↩
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