When lenders underwrite your loan, they calculate your insurance and property taxes as if they were paid monthly. This calculator does the same thing. Of course, you may have to mentally add mortgage insurance, if required, and Homeowner's Association Fees.
Please keep in mind that our lenders can get your monthly payment lower than what is projected here. This tool is just to give you a ball park figure based upon conventional financing. There are many programs available to meet your specific needs.