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Started By
Message
Do most mortgage calulators include taxes and insurance?
Posted on 10/3/12 at 6:13 pm
Posted on 10/3/12 at 6:13 pm
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.
5
Posted on 10/3/12 at 6:44 pm to wegotdatwood
No
Posted on 10/3/12 at 6:48 pm to wegotdatwood
Zillow's mortgage app does. It gives estimates of what the taxes and insurance will be and gets very close where I live.
Posted on 10/3/12 at 7:38 pm to wegotdatwood
[link=(mlcalc.com)]LINK[/link]
This has a place for taxes and insurance.
This has a place for taxes and insurance.
Posted on 10/3/12 at 8:20 pm to wegotdatwood
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?
Posted on 10/3/12 at 8:27 pm to ZereauxSum
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.
Posted on 10/3/12 at 9:00 pm to wegotdatwood
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.
Posted on 10/3/12 at 10:20 pm to AUtigerNOLA
No pmi, will be getting a VA loan.
Posted on 10/3/12 at 10:21 pm to AUtigerNOLA
Was thinking a safe number would be 150 to 175k.
Posted on 10/4/12 at 7:34 am to wegotdatwood
25% of your take home would be a starting point
Posted on 10/4/12 at 11:18 am to Blakely Bimbo
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
If you know these numbers plug them in yourself
I use this for all my clients and am usually within $20 of actual mortgage
Posted on 10/4/12 at 12:14 pm to wegotdatwood
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.
Posted on 10/4/12 at 12:21 pm to Blakely Bimbo
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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