The answer depends heavily on your down payment. Here's a side-by-side look at two common scenarios.
Both scenarios assume an illustrative 6.75% 30-year fixed rate; your actual rate depends on credit, loan program and market conditions at lock. PMI typically drops off once you reach roughly 20% equity, so the 5%-down scenario's payment usually decreases over time even without refinancing.
Want to see how HOA dues, a different rate, or a different price point change things? Use the full calculator.