Tax And Insurance Tables

The amounts shown for taxes and insurance are estimates; for a specific property, ask your Realtor. THE TABLES BELOW ASSUME THAT THE PROPERTY HAS HOMESTEAD EXEMPTION. To figure your estimated total monthly payment, use the tables, adding the amounts for taxes and insurance for your particular sales price, and then add that to the principal and interest that you have already calculated.

Monthly Estimated Amounts For Taxes And Insurance

For prices over $200,000, use $1.25 per thousand for taxes and 40 cents per thousand for insurance, for a total of $1.65 per thousand of sales price (e.g. $210,000 would be 200 x 1.65 = $330 per month for taxes and insurance.).

If mortgage insurance is applicable (and it is when the downpayment is less than 20% of the purchase price), then add 43 cents per thousand dollars of loan amount for 10% down, and 65 cents per thousand for 5% down. Hence, for a $100,000 loan, the monthly mortgage insurance with 10% down would be about $43, and $65 when the downpayment is 5%. For FHA loans, add 42 cents per thousand, or $21/mo for a $50,000 loan. The monthly mortgage insurance is always applicable except on 15 year loans with a downpayment over 10%; the downpayment has no effect on the Up Front Premium; if no premium is paid to FHA then it's not an FHA loan.

PRICE	TAXES	INS.	TOTAL	PRICE	TAXES	INS.	TOTAL
$30,000	1	28	13	$120,000	128	50	178
$35,000	7	28	21	$125,000	135	52	187
$40,000	15	28	31	$130,000	142	54	196
$45,000	22	28	40	$135,000	149	56	205
$50,000	29	28	50	$140,000	156	58	214
$55,000	36	30	59	$145,000	163	60	223
$60,000	43	30	68	$150,000	170	63	233
$65,000	50	30	77	$155,000	177	65	242
$70,000	57	30	86	$160,000	185	67	252
$75,000	64	31	95	$165,000	192	69	261
$80,000	71	33	104	$170,000	199	71	270
$85,000	78	35	113	$175,000	206	73	279
$90,000	85	37	122	$180,000	213	75	288
$95,000	92	39	131	$185,000	220	77	297
$100,000	100	42	142	$190,000	227	79	306
$105,000	107	44	151	$195,000	234	81	315
$110,000	114	46	160	$200,000	241	84	325
$115,000	121	48	169