What's Included on my Mortgage payment?

This depends how your mortgage is set up, its dependent on whether you choose to have excluded your taxes and insurance on your payments, or you choose to have them together.

Most loan officers don’t even tell their clients that they have a choice of excluding their taxes and insurance from the payment.  However, you do have a choice of either having them or not included in your payment.

So it all depends on how your loan was set up to either include your taxes and insurance or not.

Loan Mortgage Payments and Real Estate Taxes is what is most common included in your payments; hazard insurance is usually paid separately.

Tags: Loan_Programs

Answered on Friday, Sep 19 2008 09:18 AM PDT

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