Est payments is just an abreviation for the estimated mortgage payment on the property you were looking at using the down payment and interest parameters on the website.
Of course, if the home is to be a cash purchase then the portion of the estimated payments made on a loan are not a concern but property taxes, insurance, and home owners association fees would still need to be considered.
I believe that should clear things up a bit for you but if you have any further then contact me by clicking on my name & I'll be happy to follow up. And by the way, coastal San Diego is a great place to be looking for a home. I love living here, know the area very well and think you are going to love it too!
You asked "What are Est. payments?"
That is a reasonable question. Est Payments are the Estimated Payments for the home based on current interest rates in todays market, with a down payment of 5%. The $4115 probably includes the $700/month for property taxes and $100/month for insurance. I doubt it includes HOA - Homeowners Association dues.
If you go to the property and click on the "Mortgage" tab, you will see current rates for loans and you can adjust the numbers for the amount of money you want to put down.
With 20% down, the Est Payments drop to around $2800/month. Then add Taxes & Insurance for about $3600/month based on the 4.5% rates quoted on the mortgage tab.
Hope this helps.
Please feel welcome to contact me for more information by clicking on my name.
Dennis Smith, ABR, SRES, e-PRO, CDPE, RealtorÂ® Lic #00476662
RE/MAX By-the-Sea, Carlsbad CA
CA DRE #01775528
Price of property: $699,900
Down payment (20%): $139,980
Loan amount: $559,920
Interest rate: 6.000%
Loan term: 30 Years
Payoff date: Aug, 2041
You have 360 payments that total to: $1,481,483
Monthly Payment Information
Principal and interest payment: $3,357.00
Property Taxes: $583.25
Hazard insurance: $174.98
Private Mortgage Insurance: $0.00
Total monthly payments: $4,115.23