Mortgage Guide

Affordability

Budgeting Property Taxes and Insurance

Published by the Mortgage Guide editorial team. Rate assumptions and content updated October 2026. This page is educational. It is not a loan offer, approval, or personalized financial advice.

Tax is not a national percent

The affordability calculator's 1% tax-rate field is a round placeholder so the math has a starting point. Counties range widely around it.

If you know the annual bill, the payment calculator's dollar field is the more direct input. Divide your own bill by 12 rather than trusting a percent of a future price.

Insurance follows the building, not the loan

Age, roof, location, and coverage change the premium. A quote for a different house is not a quote for this one.

Both numbers can be revised after you buy. Escrow is the account that absorbs that revision.

Where to type the real number
If you haveUse
Annual tax billPayment calculator, tax dollars
Local tax rateAffordability calculator, tax percent
Insurance quoteEither insurance field

Calculators

Related guides

Sources

Common questions

Why do the two calculators start at different tax amounts?

One asks for dollars and starts at a $4,400 placeholder. The other asks for a rate and starts at 1%. They are both placeholders.

Are flood or HOA fees included?

No, unless you add them. HOA has its own field on the payment calculator. Flood insurance does not.