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wegotdatwood
Member since Aug 2009
17094 posts

Do most mortgage calulators include taxes and insurance?

I'm looking on a site right now and put in 4% for a 30 year loan and it shows the monthly payment. We'll be in the market for a home hopefully next fall. We'll net around 5 to 6k a month and trying to figure a ballpark range price of houses to begin our search.


lnomm34
USA Fan
Louisiana
Member since Oct 2009
8153 posts

re: Do most mortgage calulators include taxes and insurance?
No


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ZereauxSum
LSU Fan
Lot 23E
Member since Nov 2008
10176 posts

re: Do most mortgage calulators include taxes and insurance?
Zillow's mortgage app does. It gives estimates of what the taxes and insurance will be and gets very close where I live.


reb13
Ole Miss Fan
Oxford, MS
Member since May 2010
10277 posts

re: Do most mortgage calulators include taxes and insurance?
[link=(mlcalc.com)]LINK[/link]

This has a place for taxes and insurance.


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wegotdatwood
Member since Aug 2009
17094 posts

re: Do most mortgage calulators include taxes and insurance?
Thanks, will look that up. Any ball park range on what you would be comfortable spending with the loan, insurance, and tax with that income?


Blakely Bimbo
Alabama Fan
Member since Dec 2010
1183 posts

re: Do most mortgage calulators include taxes and insurance?
quote:

Zillow's mortgage app does. It gives estimates of what the taxes and insurance will be and gets very close where I live.



I was looking at a house in Baldwin County on Zillow the other day. Knowing full well how expensive any insurance is here, the amount zillow calculated per month was laughable.


AUtigerNOLA
Auburn Fan
New Orleans, LA
Member since Apr 2011
11998 posts

re: Do most mortgage calulators include taxes and insurance?
quote:

Thanks, will look that up. Any ball park range on what you would be comfortable spending with the loan, insurance, and tax with that income


It depends on how much the house is. But say a $200k house, the insurance is around $100. Taxes are around 90-150. If you have a FHA Loan, PMI will be around $170 or higher.


wegotdatwood
Member since Aug 2009
17094 posts

re: Do most mortgage calulators include taxes and insurance?
No pmi, will be getting a VA loan.


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wegotdatwood
Member since Aug 2009
17094 posts

re: Do most mortgage calulators include taxes and insurance?
Was thinking a safe number would be 150 to 175k.


yellowfin
Illinois Fan
Coastal Bar
Member since May 2006
78322 posts

re: Do most mortgage calulators include taxes and insurance?
25% of your take home would be a starting point


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ItNeverRains
LSU Fan
Franklin, TN
Member since Oct 2007
7695 posts

re: Do most mortgage calulators include taxes and insurance?
My Zillow mortgage app under advanced tab lets me set insurance, hoa, taxes.

If you know these numbers plug them in yourself

I use this for all my clients and am usually within $20 of actual mortgage


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Crbello4Hiceman
LSU Fan
Lurking
Member since May 2011
499 posts

re: Do most mortgage calulators include taxes and insurance?
Not sure about your area but in NOLA we can always go to the assessor's website to look at the property tax history on a given property. Obviously, you have to take into account whether homestead exemption has been taken or not but it serves useful here in considering property tax costs.


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ZereauxSum
LSU Fan
Lot 23E
Member since Nov 2008
10176 posts

re: Do most mortgage calulators include taxes and insurance?
quote:

I was looking at a house in Baldwin County on Zillow the other day. Knowing full well how expensive any insurance is here, the amount zillow calculated per month was laughable.


Close to Macon, GA?

I wouldn't have thought insurance would e especially high there. Any particular reason that you know of?


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