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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Terri Vellios, Agent, Campbell, CA
Tue Apr 1, 2014
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.
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James Deskins, Agent, Worthington, OH
Tue Apr 1, 2014
Who's quoting it?...............
0 votes
Julie Budrow, Agent, Janesville, WI
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
The Liz Kost…, Agent, Fort Atkinson, WI
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
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