Loan Estimate and Closing Disclosure table showing expected principal, interest, mortgage insurance, escrow, and total payment phases.
Projected Payments is the table on page 1 of the Loan Estimate and Closing Disclosure that organizes expected principal and interest, mortgage insurance, escrow, and total monthly payment amounts across the loan’s payment phases.
The first quoted payment may not describe the mortgage’s full path. An adjustable rate can change, an interest-only period can end, mortgage insurance can apply, and escrowed property costs can increase. The Projected Payments table brings those components together so a borrower can see more than the opening principal-and-interest amount.
The table is also a budgeting checkpoint. Its total can be more useful than a principal-and-interest quote, but it is not necessarily the borrower’s complete cost of owning the home. Charges marked as not escrowed, association dues paid separately, maintenance, and utilities still require their own budget.
The table first appears on the Loan Estimate, where it helps a borrower compare proposed loan structures. It appears again on the Closing Disclosure, where the borrower can check the later figures against the earlier estimate before signing.
After closing, the note and servicing records control the actual contractual payment and current amount due. The disclosure table is a forward-looking summary, not a substitute for the loan contract or later Mortgage Statement.
| Field | What it tells the borrower |
|---|---|
| Principal and interest | Expected loan-core payment or payment range for the period shown |
| Mortgage insurance | Expected mortgage-insurance amount when applicable |
| Estimated Escrow | Projected monthly amount for property charges expected to be paid from escrow |
| Estimated Total Monthly Payment | Combined total of the payment rows above |
| Estimated Taxes, Insurance & Assessments | Broader estimate of covered property costs and whether each type is expected to be in escrow |
The table may show more than one payment column when the loan has a scheduled or possible payment change. A borrower should read the amount together with the years or payment period shown above that column.
A borrower reviews an interest-only mortgage. The first column shows the payment during the interest-only phase. A later column shows the higher principal-and-interest payment expected after principal repayment begins, along with mortgage insurance and estimated escrow when applicable.
The lower opening total is real for its stated phase, but it is not the long-term payment. The borrower uses the later column to decide whether the loan remains affordable after the transition.
Projected Payments differs from a Mortgage Payment Schedule. The disclosure table summarizes expected payment phases and components, while the payment schedule describes the contractual sequence of required payments and due dates across the loan term.
It differs from an Amortization Schedule, which shows how scheduled payments divide between principal and interest and affect the loan balance over time.
It also differs from the Monthly Mortgage Payment after closing. Projected Payments is a disclosure estimate; the monthly mortgage payment is the actual recurring amount billed under the active account.