For those of you confused as to why being $1 short of the price would translate to $377/mo… This particular calculator factors in things like property taxes, homeowners insurance, HOA fees, and other recurring expenses that are paid for annually, but are typically deducted into an escrow account each month along with your mortgage payment so that you aren’t hit with a surprise bill for thousands of dollars at the end of the year.
For those of you confused as to why being $1 short of the price would translate to $377/mo… This particular calculator factors in things like property taxes, homeowners insurance, HOA fees, and other recurring expenses that are paid for annually, but are typically deducted into an escrow account each month along with your mortgage payment so that you aren’t hit with a surprise bill for thousands of dollars at the end of the year.