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speaktruth2powr 2 kids; Ontario 45168 posts
status 8th Jan '13
Quoting Twin's Mommy:" I'm assuming both, but yes, if it's not both, we'll definitely get both. But the way I have understood ... [snip!] ... life insurance on it as well (I think it's called that. Like, if DH were to die before it was paid off, it'd be paid for). "


Yes, but that isn't included in your mortgage payment....it's just through the same company.



Our bills:
Mortgage
Insurance - Home & Mortgage
Property taxes
Hydro
Gas
Water
Cell phones
Internet
Home phone



Other bills:
Car insurance
Car payment



You should also expect to pay out on average 2% of the house's value annually for house repairs and maintenance.

user banned Due April 2; Georgia 7200 posts
8th Jan '13
Quoting speaktruth2powr:" Yes, but that isn't included in your mortgage payment....it's just through the same company. Our bills: ... [snip!] ... Car payment You should also expect to pay out on average 2% of the house's value annually for house repairs and maintenance."


The people doing our mortgage said that x amount was for the mortgage, that y amount is for the insurances, and that z amount is for property taxes. That the total amount we'd being paying monthly is "xyz". So since we're paying it all to the same people, at the same time, I just say the entire total is our mortgage, does that make sense, how I'm explaining it?

ILOVEWINE Due April 24; 2 kids; Sweden 10814 posts
8th Jan '13

<blockquote><b>Quoting Twin's Mommy:</b>" The people doing our mortgage said that x amount was for the mortgage, that y amount is for the insurances, ... [snip!] ... the same people, at the same time, I just say the entire total is our mortgage, does that make sense, how I'm explaining it? "</blockquote>



Yes that's correct, but then you will pay an additional homeowners insurance through a company, like ours is through pemco. It's 17$ a month, we also have a new home with a sprinkler system so it's really cheap.

user banned Due April 2; Georgia 7200 posts
8th Jan '13
Quoting ILOVEWINE:" <blockquote><b>Quoting Twin's Mommy:</b>" The people doing our mortgage said that ... [snip!] ... a company, like ours is through pemco. It's 17$ a month, we also have a new home with a sprinkler system so it's really cheap."


Oh okay. Yeah this home was built in 2007, so it's newish. We went now, and obviously don't fool with that as of right now, so when the guy said your mortgage includes this, this and this, I didn't realize there would be an oh by the way, there is also this. haha.

speaktruth2powr 2 kids; Ontario 45168 posts
status 8th Jan '13
Quoting Twin's Mommy:" Oh okay. Yeah this home was built in 2007, so it's newish. We went now, and obviously don't fool with ... [snip!] ... said your mortgage includes this, this and this, I didn't realize there would be an oh by the way, there is also this. haha."


There are so many more hidden costs in buying a house....it's crazy.

user banned Due April 2; Georgia 7200 posts
8th Jan '13
Quoting speaktruth2powr:" There are so many more hidden costs in buying a house....it's crazy."


Tricky little bastards! But yeah, house insurance is a definite must. We had some neighbors when I was a kid, had bought the house down the road from us, and lived there between a week & a month... the house caught on fire, and they didn't have insurance.

Onalee's Mummy Due August 26 (boy); 1 child; Newcastle, Australia 5355 posts
8th Jan '13

House insurance, mortgage insurance, health insurance, food, house upkeep, electric, water, rates, phone, Internet,

user banned Due April 2; Georgia 7200 posts
8th Jan '13
Quoting Onalee's Mummy:" House insurance, mortgage insurance, health insurance, food, house upkeep, electric, water, rates, phone, Internet,"


Looks like a good list. We don't have to worry about water, it goes on the electric bill. It's the little bills like that I forget about.

Phf- ee bee;) Due January 26 (girl); 18 kids; Pennsylvania 5302 posts
8th Jan '13

We send our insurance papers and tax papers to our mortage company and they pay it out of our payment - so it very well COULD be included, just double check. When we given estimates of payments for houses we were looking at- they included the taxes & insurance in the payment. Our home was $84,500 our payment is $722/month (was $680/month in 2010 when we first bought it, since then the taxes have gone up) so we pay approx $240 for taxes - i think around $430 for the house - and like $50 for the insurance, something like that?

JessicaMatlock:) Due May 7 (boy); 1 child; Modesto, California 1337 posts
8th Jan '13

i dont know anything aboutt he house.. he got it before we got together i know after all the bills he has about 40% of his income left for other things like splurges on food or savings or anything like that.. hes great with his money

user banned Due April 2; Georgia 7200 posts
8th Jan '13
Quoting forgive-n let*love:" We send our insurance papers and tax papers to our mortage company and they pay it out of our payment ... [snip!] ... up) so we pay approx $240 for taxes - i think around $430 for the house - and like $50 for the insurance, something like that?"


Yeah I'm going to meet with the realtor, myself, Thursday, so I'll be able to get everything figured out then. It sucks with them talking to DH, and DH telling me, so I could've gotten confused along the lines. But if 700 is the taxes & insurance (like I think, but I'll definitely ask) and we have to pay 240 for taxes, the mortgage on it would only be 460. BUT, who knows. lol. DH was supposed to speak to the realtor today, but he got busy at work. We might not get it, at this point it doesn't matter to me, but if I think we're being screwed in anyway, it won't happen. lol.