This payment calculation has been made with default values. If you want to recalculate with different values, just click on the "Start Over" link. If you want to store your preferences so that you don't have to keep changing the default values, go to
My Real Estate > Mortgage Preferences
Purchase & Financing Information
Sale Price of Home: $ (In Dollars)
Down Payment Amount: $
Length of Mortgage: years
Annual Interest Rate: %
Explain Calculations: Show me the calculations and amortization
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Mortgage Payment Information
Down Payment:
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Amount Financed: $225,000.00
Monthly Payment: $1,496.93
(Principal & Interest ONLY)
Since you are putting LESS than 20% down, you will need to pay PMI (Private Mortgage Insurance), which tends to be about $55 per month for every $100,000 financed (until you have paid off 20% of your loan). This could add $123.75 to your monthly payment.
Monthly Payment: $1,620.68
(Principal & Interest, and PMI)
Residential (or Property) Taxes are a little harder to figure out... In Grand Junction, the average resedential tax rate is approximately 7$ per every $1000 of home value, which is considerably less than the national average.

Let's say that your property's assessed value is 85% of what you actually paid for it - $191,250.00. This would mean that your yearly residential taxes will be around $1,338.75 This could add $111.56 to your monthly payment.
TOTAL Monthly Payment: $1,732.24
(including PMI and residential tax)