Home Buying in Janesville>Question Details

Carrie Reed, Home Buyer in New York, NY

The monthly payment, does that include taxes and insurance?

Asked by Carrie Reed, New York, NY Tue Apr 1, 2014

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Can you elaborate? It depends. Your mortgage monthly payment is usually only principle and interest. However, property taxes and insurance can be collected by you monthly and paid on your behalf in your monthly mortgage billing.
0 votes Thank Flag Link Tue Apr 1, 2014
Who's quoting it?...............
0 votes Thank Flag Link Tue Apr 1, 2014
Once you close on a property, your monthly payment will include principle and interest. If you have an escrow, your monthly payment will include a portion of your taxes to be put into escrow and paid later. Depending on your type of financing, your monthly payment could also include PMI.
0 votes Thank Flag Link Tue Apr 1, 2014
No, its principle and interest. you wont know what taxes and insurance will be until you find a house and find out what the taxes are
0 votes Thank Flag Link Tue Apr 1, 2014
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