Question

Besides the actual mortgage payment, which also factors into the monthly payment on a home?

Answer 1

Answer:

In addition to the mortgage payment, you must pay monthly for property taxes and repairs the property may need.

Explanation:

Real estate mortgages are also referred to as “home equity loan” and “real estate refinancing”. This modality consists of placing a settled property as collateral to be withdrawn an amount of money. There are many reasons why people put their houses in the hands of bank branches in exchange for money.

In addition to mortgaging a property, some other monthly payments must be made when it is desirable to own a private property. Among these payments it is necessary to pay monthly property taxes, these taxes refer to the supply of water, gas, sewage, among other factors. In addition, the property may need monthly repairs, this expense should also be considered.

Answer 2

Aside from the actual mortgage payments, you also pay for your monthly property taxes, homeowner's insurance, and home repairs.

Sometimes homeowners also pay for monthly dues to their homeowners association. This monthly dues include water, sewer, garbage, and maintenance of other amenities like clubhouse, pool, and tennis courts.