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First you need to know the purchase price of the home and then figure out the amount of the mortgage you will take out on it. Use a mortgage calculator (bankrate.com is a good one) to estimate what the payments will be. The actual payments will depend on what interest rate you get from your lender and what expenses you choose to include in the payment, such as property tax and home owners insurance.

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Q: What is the monthly payment on a home on Hibiscus Island in Miami?
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