Additional costs for owning a home will include payments for local taxes, homeowner insurance, PMI fees if applicable and other related fees. Understand what fees will be added monthly to your overall mortgage repayment plan.

1. What is the True Cost
   the true cost of a mortgage will include monthly escrow payments for taxes, insurance and other related fees. Homeowners will often omit these monthly fees when calculating how much home to afford:
   
   view notes: how much for escrow
   
   

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