Prudential Hallmark Realty Mortgage Center

Property Taxes:
Annual property taxes are approximately 1.35% times the purchase price of the house (not the loan amount). Divide the annual property tax amount by 12 to get your monthly payment. For example if the purchase price of the house is $300,000, then the additional amount to add to the monthly mortgage payment would be $337.50 per month ($300,000 X 1.35% / 12 = $337.50).

Homeowners Insurance (Fire Insurance):
For example, insurance on a home valued at $300,000 would be approximately $350.00/year. Divided $350.00 by 12 to get your monthly homeowners insurance payment. ($350.00 / 12 = $29.17 per month). The additional amount to add to your monthly mortgage payment would be $29.17/month.

Mortgage Insurance:
Mortgage Insurance could be a factor depending on the down payment.

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