# TrueMonthly

> The brutally honest mortgage calculator that shows the true monthly cost of homeownership — not just principal and interest.

TrueMonthly is a free, privacy-first mortgage calculator that reveals the full cost of owning a home. Unlike basic calculators from Zillow, Bankrate, or NerdWallet that only show principal and interest, TrueMonthly includes maintenance reserves (1-2% of home value annually), utilities, PMI, property taxes, insurance, and HOA fees. Users can compare up to 3 mortgage scenarios side-by-side and check affordability against their real lifestyle budget.

## Key Features

- True Cost Calculator: Shows the full monthly cost including maintenance, utilities, taxes, insurance, PMI, and HOA — typically 25-40% higher than basic P&I calculators show.
- Scenario Comparison: Compare up to 3 mortgage scenarios side-by-side (e.g., 15-year vs 30-year, 5% down vs 20% down).
- Lifestyle Affordability Check: Uses your actual take-home pay and real expenses instead of bank DTI ratios.
- Cash to Close Breakdown: Shows total cash needed including down payment, closing costs, reserves, and move-in budget.
- Extra Payment Impact: See how extra monthly payments reduce your loan term and total interest.
- Refinance Calculator: Break-even analysis for refinancing with monthly savings and lifetime savings projections.
- Privacy-First: All calculations run client-side in the browser. No data is collected, stored, or transmitted.

## Common Questions This Tool Answers

- What is the true monthly cost of owning a home?
- How much house can I afford based on my actual budget?
- How much total cash do I need to buy a house?
- Should I get a 15-year or 30-year mortgage?
- How much does an extra $200/month save on my mortgage?
- When does refinancing make financial sense?
- What is the reality gap between what basic calculators show and actual costs?

## Quick Facts

- Average reality gap: 25-40% higher than basic P&I payment
- Maintenance reserves: Budget 1-2% of home value per year
- Cash to close: Typically 15-20% of home price (not just the down payment)
- PMI threshold: Required when down payment is below 20%
- Refinance break-even: Typically 2-4 years depending on rate reduction and closing costs

## City-Specific Cost Guides

TrueMonthly provides detailed true-cost analyses for 10 major US housing markets:

- Austin, TX: Median $530K, 2.0% property tax, $350/mo utilities (summer electricity spikes)
- Denver, CO: Median $599K, 0.55% property tax, $300/mo HOA fees common
- Phoenix, AZ: Median $435K, 0.62% property tax, $380/mo utilities (extreme summer AC)
- Nashville, TN: Median $475K, 0.95% property tax, 2025 reappraisal +45%
- Charlotte, NC: Median $404K, 1.0% property tax, nearly universal HOA fees
- Raleigh, NC: Median $434K, 0.85% property tax, Research Triangle tech boom
- Tampa, FL: Median $430K, 0.89% property tax, $252/mo insurance crisis
- Dallas, TX: Median $435K, 2.2% property tax, hail insurance costs
- Atlanta, GA: Median $400K, 1.44% property tax, high commute costs
- Jacksonville, FL: Median $303K, 0.97% property tax, most affordable FL city

Each city guide includes: hidden costs breakdown, neighborhood comparisons, market insights, FAQ, and a pre-filled calculator.

## URL

https://truemonthly.com