How much do you pay for your home loan?

Online mortage calculators seem like they are fulll of lies. I exact same info used has be from 700 a month to over a 1000 (for a loan of about 122,000). I know taxes and interest rate will change, but about how much is your loan and what is your monthly payment? I've hear it is about 10% of your mortgage, but I have a really hard time trusting the people that make a living off of selling homes.

The assumptions will change and they can really, drastically affect the mortgage payment. You have to know if they are estimating taxes and insurance or not. Your loan of 122,000 will have principal and interest payments of $751 (for a 30 year fixed loan at 6.25% interest). At 4% interest (not saying you can find it, just for the difference in payment) the payment would be $582. At 9% interest that loan would be $982 per month. Taxes. Taxes can run anywhere from 0.5% of the value per year up to 4% of the value per year. It could range from $508 per year ($60 a month) up to $4880 per year or $410 per month! Insurance, depending upon where you are, could also have a huge range from a few hundred a year to a few thousand. Then, if you don't put down 20%, you'll have PMI (private mortgage insurance) which could add up to another $200 a month onto your loan payment. It is confusing and depending on what is included in a home loan calculator, it will look very different. good luck! my loan is for $260,000. I pay $1500 a month at 5.5% interest and pay my taxes and insurance on my own (they are not included in the $1500).