Mortgage insurance is an assumption here: 1.75% upfront and 0.55% a year on FHA, 1% upfront and 0.35% a year on USDA. FHA's annual premium moves with the down payment and the size of the loan, and USDA sets its fees by fiscal year, so ask the lender for the figures that apply to your file. The FHA page has the tiers.
The tax line auto-fills from the price and is a rough proxy. Chester County still bills from 1996 assessed values, so the real number is the assessment times the millage of the township and school district, and Downingtown Area, Tredyffrin/Easttown and Octorara land in very different places. Type in the actual bill from the listing.
Building instead of buying: a construction-to-permanent loan is sized on the finished value of the house, so enter that. The result above is the payment on a completed house. The draw schedule and the period before the house is done are laid out by the lender.
Estimated monthly payment
Estimated cash to close
Half each is the custom here; the agreement of sale can say otherwise. First-time buyers under the county's income limits can apply for Chester County's 0% program of up to $40,000, repaid when the house is sold or refinanced.
An estimate is a starting point. Real pricing needs a real file.
Call, answer a few questions, and a licensed Pennsylvania lender calls you back with numbers for your actual scenario, usually the same business day.
(484) 290-8667Estimates only. Not a loan offer, rate quote, or commitment to lend. The rate field is your assumption. Taxes, insurance, mortgage insurance and closing costs depend on the property and the borrower, and any loan is subject to lender approval.