Homevalue: the selling price of the home.
Downpayment: the amount the buyer has saved & is willing to invest in the property upfront. The average downpayment is around 10%, though the benchmark is 20% to relax PMI requirements.
Loanamount: typically the home value less the downpayment.
Interestrate: the annual percentage rate (APR) charged on the loan.
Loanterm: the amortization period of the loan in years - typically 30 for most US residential loans propertytax: annual property tax payment.
PMI: property mortgage insurance as a percent (typically between 0.5% and 1.3%, though unneeded if a 20% downpayment is used).
Homeinsurance: annual cost of a homeowners insurance policy.
Monthlyhoa: monthly dues for being part of a homeowners association.
