While your mortgage payment includes principal and interest, remember other recurring costs like property taxes and homeowners insurance. Property taxes vary widely but generally fall between 1-3% of your home's value. Homeowners' insurance costs depend on location and property value, so shopping for the best rates is wise. Some mortgage companies offer an escrow option to spread these costs over your monthly payments, which can help with budgeting. #Homeownership #PropertyTaxes #HomeInsurance #MortgageTips #EscrowOption
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