thankyou for you answer, bot, what is the amount that i have to pay about total tax if i will buy this home ?

Asked by Miguel, 13208 Wed Jul 28, 2010

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SYRACUSE LIS…, , Syracuse, NY
Fri Jul 30, 2010
Hypethetically, For a home costing $62,500.00 with a 30 year fixed mortgage at a rate of 5.5% with yearly taxes in the amount of $2700.00. The principal and interest amount is approximately $355.00, plus monthly amount escrowed for taxes $225.00 plus hazard insurance of approximately $450/year at $37.50/month - you are looking at about $617.50/month. Feel free to check out my mortgage calculators at SyracuseListings.com a useful tool for any home you are considering purchasing. It is smart to speak to a mortgage loan officer before you begin your search so that you know in advance how much home you can afford. Feel free to contact me with any questions at SyracuseListings@gmail.com - Thanks, Julianne
1 vote
Julianne O'R…, Agent, Manlius, NY
Mon Dec 30, 2013
Hypethetically, For a home costing $62,500.00 with a 30 year fixed mortgage at a rate of 5.5% with yearly taxes in the amount of $2700.00. The principal and interest amount is approximately $355.00, plus monthly amount escrowed for taxes $225.00 plus hazard insurance of approximately $450/year at $37.50/month - you are looking at about $617.50/month. Feel free to check out my mortgage calculators at SyracuseListings.com a useful tool for any home you are considering purchasing. It is smart to speak to a mortgage loan officer before you begin your search so that you know in advance how much home you can afford. Feel free to contact me with any questions at SyracuseListings@gmail.com - Thanks, Julianne
0 votes
Thomas McGiv…, Agent, Farmingville, NY
Thu Jul 29, 2010
Your mortgage rep should have this answer for you. Sadly - most do not verify taxes - WHICH IS AMAZING TO ME.

I still cannot figure out how mortgage reps do not verify property taxes. They just go off the MLS. That's crazy.
0 votes
Janis Orshal, , Syracuse, NY
Wed Jul 28, 2010
Cindy has provided good detailed information. Bottom line your mortgage loan officer will inform you what is required for your particular home that you have placed a purchase offer. The prepaid taxes will be part of your closing cost estimated expenses.
0 votes
Anna M Brocco, Agent, Williston Park, NY
Wed Jul 28, 2010
To verify taxes as they would apply to you after your purchase, check with the local tax assessor's office beforehand, or ask your agent and or attorney for the information before contract.
0 votes
Cindy Nagle, Agent, Syracuse, NY
Wed Jul 28, 2010
Hi Miguel, Those amounts are the totals due yearly. In the city of Syracuse you would pay quarterly so you could divide those totals to get an approximate amount due each quarter. You may also be able to apply for basic star exemption, senior star exemption or vet exemptions. At the time of close you would have to pay back the seller for any amount that they had prepaid into the tax year. Depending on your mortgage you may also have to prepay approximately ten months of taxes to hold in escrow. Thanks, Cindy cnagle@realtyusa.com
0 votes
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