Projected Payments Table (Closing Disclosure)

By Michael George · NMLS #2280851

Updated October 11, 2026

The Projected Payments table on page 1 of the Closing Disclosure shows the estimated mortgage payment and how it can change over the loan term. Regulation Z specifies its content and calculation rules. 12 CFR 1026.38(c)

What the rows mean

• Principal & Interest: The scheduled loan payment, or a range where required by the loan's payment features.
• Mortgage Insurance: Periodic mortgage-insurance charges, if applicable, such as conventional PMI or FHA mortgage insurance.
• Estimated Escrow: Estimated monthly deposits for items paid from escrow, such as property taxes and homeowners insurance. Mortgage insurance is shown separately.
• Estimated Total Monthly Payment: The sum of the preceding payment components.

Below these rows, Estimated Taxes, Insurance & Assessments identifies relevant property costs and whether they are included in escrow. Some costs may be payable separately and are not part of the monthly payment sent to the servicer. CFPB Closing Disclosure explainer; 12 CFR 1026.37(c), incorporated by 1026.38(c)

VA loans do not have monthly mortgage insurance

VA-backed loans do not require monthly mortgage insurance. The VA funding fee is a separate, generally one-time charge unless the borrower is exempt. It must not be described as a monthly VA mortgage-insurance premium. Financing the fee increases the loan balance and can affect principal and interest. VA funding fee and closing costs

Reading payment changes

Separate columns can show periods when scheduled payments change, such as an ARM adjustment or the scheduled end of mortgage insurance. The periods depend on the loan; there is no universal years 1–5/6–10 layout. Estimated taxes and insurance can change even with a fixed interest rate. Compare the table with the loan terms and ask which costs are paid outside escrow. 12 CFR 1026.38(c); CFPB mortgage payment explanation

Related concepts: escrow accounts and adjustable-rate mortgages.