i know this depends on property taxes and homeowners insurance, but what do you think would be on average the monthly mortgage payment on a $250,000 home loan? Just trying to get a better idea of what we can afford. Thanks!
Suzanne
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Re: Mortgage
1498.00 a month base on a 6% intrest rate and a 30 year mortgage...
091804bride
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Thanks!
091804bride
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How much is homeowners insurance monthly on average?
Suzanne
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Re: Mortgage- updated with another question
it all depends on the size of the home, whats it made of for example, brick,ect.. if there is an alarm..
it could be anywhere from 600-1200 a year..you pay the first year upfront at closing and then after its monthly payments..
MrsERod
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other than that first year's premium, (included in the closing costs) isn't the homeowners insurance calculated into the monthly mortgage payment??
Laura
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yep that is correct-- I think that is what Suzanne meant by monthly payments!!!
Laura
Fran M
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Home Owners Insurance and Taxes do not have to be added into your mortgage payment. Its up to you to decide if you want to pay each item yourself or have your bank do it. Personally I dont like to give the bank any more float on my money than I have to. But thats just me.
ILT1221
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Re: Mortgage- updated with another question
Here's a good mortgage calculator. Maybe this will help. Mortgage Calculator
