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Quotes that show only principal and interest
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A payment that ignores tax, insurance, PMI, and HOA is the loan band. Put the other bills in their fields before you decide the house fits.
The number in the ad
Advertised payments are often principal and interest on a chosen price, down payment, rate, and term. They match the loan line in WiseCalculator when those four inputs match.
They are not the housing total. Add yearly tax, yearly insurance, monthly PMI if the loan is above 80% of price, and monthly HOA.
Bring the quote across
Type the price and down payment from the quote, then the note rate and the term. Put the APR in the APR field even if the ad never mentioned it. Without the APR, fees look like zero.
If the quote’s “payment” is already a PITI figure, do not also type the full PITI into the rate payment. Split it. The rate builds principal and interest. You type tax and insurance yourself.
Then look at the month
After the price is typed, housing joins the household month beside car and debt. That is the affordability check the quote skipped.
The tool will not tell you a maximum price. It will show the total for the price you typed.
This explains how WiseCalculator treats the numbers you type. It is not a lender’s offer and it is not advice for your loan.
More in Home
- HOA dues and what is left of take-homeHOA is inside housing. Leftover is take-home minus housing, car, and debts, and it appears only after you type take-home.
- The sample home on a first visitBefore you type a price, the screen shows a labeled example of a housing mix and a seven-year offer comparison. It is not your loan.
- Saving a mortgage on your accountThe inputs stay on the phone as you type. Signing in keeps them on the account, including a mortgage you never marked with a separate save.