About
About truemortgagecost.com
The full cost of a mortgage rarely matches the sticker rate. This site exists to close that gap.
Why this site exists
Most mortgage calculators show you principal and interest and stop there. The number that actually leaves your bank account each month is bigger, often by 30 to 50 percent. Property tax, homeowners insurance, PMI or MIP, HOA fees, and state level closing costs all belong in that calculation. On identical homes, moving from Hawaii to New Jersey adds about $8,000 a year in property tax alone.
How we source data
Every state level figure on this site comes from one of the following:
- Property tax rates — WalletHub and Tax Foundation annual reports (verified 2026)
- Median home values & income — US Census Bureau American Community Survey
- Homeowners insurance averages — Insurance.com, Bankrate, NAIC filings
- Transfer taxes & closing costs — PropertyShark state map and individual state revenue departments
- Current mortgage rates — FRED, Federal Reserve Economic Data, updated weekly
- Conforming loan limits — FHFA, updated annually in November
What we are not
truemortgagecost.com is not a lender, not a mortgage broker, and not a financial advisor. We do not originate loans, collect applications, or receive compensation tied to any lender decision. The calculator is an informational tool. For an actual loan quote, work with a licensed mortgage professional in your state.
Editorial approach
State level tax and insurance data is updated annually. Mortgage rate values refresh weekly from FRED. When we cite a specific figure, we cite its source. When we cannot verify a claim, we do not publish it. Feedback and corrections are welcome via the contact page.