What would be the mortgage on a $400,000 house in Mount Pleasant, SC. I also would like to know the estimated insurance, county and sschool taxes too.

    0  Views: 179 Answers: 1 Posted: 9 years ago

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    1 Answer

    That depends on the mortgage interest rate and amortization term that you secure. Once you've established the rate, google "interest amortization charts" and select the number of years you feel comfortable with based on the monthly payments. Typically, 25 year amortization terms are the norm but you can choose a longer period if you want to lower your payments or shorter if you want to pay it off sooner.You can also choose weekly or bi-weekly payments to shorten the pay back period.

    As for insurance, that depends on what sort of coverage you want or "need" to buy. Call 2 or 3 local insurance brokers for a quote.

    Prior year's taxes should be made available from your real estate broker or from the seller. Ask for written proof if your skeptical. Good luck !

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