does mortgage includes property tax or is it paid separate.
I see that it is display on the records information but i am confused as to the final monthly payment. do we have to add property taxes to the mortgage display on the site to get the final amount needed to pay each month? just want to make sure what will be the estimated final bill. Thanks
(0) | asked by: German Fernandez | share | 55 months ago | Report
Viewing Answers 1 - 6 of 6
When you use mortgage calculators to estimate a payment they do not factor in your real estate taxes. You should divide the total tax by 12 and add that to your estimated payment for a more accurate payment amount. Most lenders will also add your home owners insurance to the payment. Use the same divide by 12 formula.
Don't forget to consider home insurance which is typically included in the mortgage payment.
It doesn't appear to include the property taxes. If you would like to have it included I would contact a lender and ask them to run numbers.
If you set up an escrow account.
The real estate taxes on a property is included in the mortgage payments. You divide the property taxes by 12 and that amount is what is included in the mortgage.
answer by Robert Granata
When you pay your mortgage, USUALLY the tax is part of the payment you send to the lending institution. When you look at a mortgage calculator, it is usually NOT included. Best of Luck, Bob
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