Have you seen EveryHome’s nifty closing cost calculator yet? Not only can it calculate the approximate amount that you’ll need to bring to the settlement table, but it can also estimate your monthly mortgage payment! Under each home on our website, there is a blue button titled “Closing Costs” (click here for an example).
Mark Mawby of Freedom Mortgage is one of our helpful Network Lenders!
Your monthly mortgage payment includes more than just the principal and interest on your loan. It will also typically include all real estate taxes as well as homeowner’s insurance. This will all get paid in just one bill each month. While the monthly payment number may seem a bit high at first, our first time buyers are always relieved when they learn what’s included!
However, the monthly payment doesn’t include everything! While our closing costs calculator will simplify things for you by including any/all homeowner’s and condo association fees, if applicable, they will typically get paid in a separate bill. And of course, unlike renting, this monthly payment doesn’t include any utilities or other home-related fees!
For the best breakdown and monthly payment information, be sure to reach out to your lender or EveryHome agent. No agent or lender? No problem! Give us a call at 215 699 5555 and we’ll introduce you to local, friendly real estate experts!