Wisconsin Closing Costs Calculator

Buying a home in Wisconsin involves various expenses, including closing costs. To help you get a clear picture of your financial commitments, we have developed the Wisconsin Closing Costs Calculator. This tool will enable you to estimate your monthly mortgage payments and the overall cost of your loan.


The Wisconsin Closing Costs Calculator uses the following formula to calculate your monthly mortgage payments and total loan cost:

  1. Loan Amount: Home Price – (Down Payment Percentage * Home Price)
  2. Monthly Interest Rate: (Annual Interest Rate / 12 months) / 100
  3. Number of Payments: Loan Term (in years) * 12 months
  4. Monthly Principal and Interest: (Loan Amount * Monthly Interest Rate) / (1 – (1 + Monthly Interest Rate)^(-Number of Payments))
  5. Monthly Property Tax: Annual Property Tax / 12 months
  6. Monthly Home Insurance: Annual Home Insurance / 12 months
  7. Monthly PMI (Private Mortgage Insurance): (Loan Amount * PMI Rate Percentage) / 12 months
  8. Total Monthly Payment: Sum of Monthly Principal and Interest, Monthly Property Tax, Monthly Home Insurance, and Monthly PMI
  9. Total Cost: Total Monthly Payment * Number of Payments

How to Use

  1. Enter the Home Price.
  2. Input the Down Payment Percentage.
  3. Provide the Annual Interest Rate.
  4. Specify the Loan Term in years.
  5. Enter the Annual Property Tax.
  6. Input the Annual Home Insurance.
  7. Specify the PMI Rate Percentage.
  8. Click the “Calculate” button to get your results.


Suppose you want to purchase a home in Wisconsin with the following details:

  • Home Price: $250,000
  • Down Payment Percentage: 20%
  • Annual Interest Rate: 4.5%
  • Loan Term: 30 years
  • Annual Property Tax: $2,500
  • Annual Home Insurance: $800
  • PMI Rate Percentage: 0.5%

After entering these details into the Wisconsin Closing Costs Calculator and clicking “Calculate,” you’ll receive an estimated monthly payment and total loan cost.


  1. What are closing costs? Closing costs are fees and expenses associated with the purchase of a home. They typically include items like appraisal fees, title insurance, and attorney fees.
  2. What is PMI, and why is it included in the calculation? PMI, or Private Mortgage Insurance, is required when your down payment is less than 20% of the home’s purchase price. It protects the lender in case of default.
  3. Do I have to pay property tax and home insurance monthly? Yes, these expenses are often included in your monthly mortgage payment and paid by the lender on your behalf.
  4. Can I estimate my monthly payment without property tax and home insurance? You can use the calculator to determine your principal and interest payments alone. Property tax and home insurance can vary, so it’s good to have an estimate of those costs.
  5. How accurate is this calculator? This calculator provides a good estimate, but your actual costs may vary depending on your specific situation and the lender’s policies.
  6. Can I change the loan term to see how it affects my payments? Yes, you can adjust the loan term to see how it impacts your monthly payments and the total cost of your loan.
  7. What is the significance of the down payment percentage? The down payment percentage affects the loan amount, which, in turn, impacts your monthly payments and interest costs.
  8. Is this calculator specific to Wisconsin? While it’s named the “Wisconsin Closing Costs Calculator,” it can be used for any location. The name is to indicate that it calculates costs relevant to Wisconsin real estate.
  9. What is a good down payment percentage? A down payment of 20% is often recommended, as it can help you avoid PMI and secure better loan terms.
  10. How often should I review my mortgage payments? It’s a good practice to review your mortgage payments annually to ensure they align with your financial goals.


The Wisconsin Closing Costs Calculator is a valuable tool for anyone planning to purchase a home in Wisconsin. By estimating your monthly mortgage payments and total loan cost, you can make informed financial decisions and prepare for the expenses associated with homeownership. Remember that this calculator provides an estimate, and actual costs may vary based on your specific circumstances and the lender’s policies. Use it as a starting point for your financial planning, and consult with a financial advisor or lender for more precise figures. Happy home buying!

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