: Typically required if your down payment is less than 20% of the home's price.

: Mandatory coverage for damage or loss to the property.

: Monthly dues for community maintenance if the home is in a managed development. Affordability Benchmarks

Your total monthly payment is generally comprised of the following key factors:

: The cost of borrowing, expressed as an annual percentage rate (APR).

: Local government assessments based on the home's value, which can vary significantly by location.