PITI: How to calculate Tax and Insurance (TI) ?
I’ve used a couple online mortgage calculators, but they only seem to calculate the Principle and Interest (PI). How can I figure out approximately how much the Tax and Insurance (TI) is going to cost on top of the PI?
The home is going to be located in Va and is approx. 400k.
Check the tax office for the actual tax bill amount for the home (for instance 2000), add the annual homeowner’s insurance (for instance 500), divide by 12 and add to the PI. Taxes vary depending on the property location. They are likely higher in Northern Virginia and Tidewater (Norfolk/Va Beach) than they are for Colonial Heights (near Petersburg).
The homeowner’s insurance cost will depend on the company, the coverage and the deductible you choose. A local insurance company can give you a ball park idea.
|
|
Using Taxes to Reform Health Insurance $25.49 Using Taxes to Reform Health Insurance |
|
|
Fire Insurance Laws, Taxes and Fees $29.89 Fire Insurance Laws, Taxes and Fees |
|
|
Fire Insurance Laws, Taxes and Fees (1907) $29.89 Fire Insurance Laws, Taxes and Fees (1907) |
|
|
Fire Insurance Laws, Taxes and Fees (1914) $29.89 Fire Insurance Laws, Taxes and Fees (1914) |
|
|
Fire Insurance Laws, Taxes and Fees (1908) $29.89 Fire Insurance Laws, Taxes and Fees (1908) |
