True cost
The price of the house is not the cost of the house.
The website keeps evidence classifications visible so a modeled or representative input is not mistaken for an observed local fact.
Key takeawayTwo homes with the same purchase price can create different monthly costs because taxes, insurance, flood risk, financing and HOA charges can differ.
| Component | Classification | Meaning |
|---|---|---|
| Purchase price | Observed | Listing, contract or closed-sale price. |
| Principal + interest | Modeled | Price, down payment, rate and term. |
| Mortgage rate | Observed benchmark | 6.71% Freddie Mac PMMS on 9/3/2026; borrower-specific in practice. |
| Property taxes | Representative | Location-specific model input; actual parcel may differ. |
| Homeowners insurance | Illustrative | No “typical Northshore” premium is inserted. |
| Flood insurance | Property-specific | Requirement and premium vary by property. |
| Mortgage insurance / fees | Program-specific | FHA/VA/USDA/conventional differ. |
| HOA | Property-specific | Not every property has one. |
| Existing debt | Household-specific | Reduces modeled budget. |