![]() ![]() Hawaii is the lowest state at 0.32% while New Jersey is the highest state at 2.31%. Property Taxes: National average of around 1.25% of the property price.These can be paid upfront or rolled into the loan & typically range from 2% to 5% of the property value depending on factors including things like how many discount points you purchase and local governmental record keeping fees. Closing Costs: fees associated with verifying the property title, loan documentation & originating the loan.Anywhere from $150 to $800 a month can be common. Factors include amenities, build quality, building age & location. HOA fees: For home located inside an association these fees vary widely. ![]() Older homes tend to cost more to maintain than newer homes, but multi-unit dwellings that are built near the peaks of bubbles often end up having quality issues which get reflected into higher HOA fees. These expenses can be lumpy with major repairs like roofing replacement or septic tank issues coming up once per decade or so. Home Repairs: 0.5% to 2% of the home's value each year.Here is a description of expenses frequently associated with homeownership. The only major expense categories which are not included are property maintenance & the initial loan closing costs. Our calculator estimates core principal & interest loan payments, along with many other costs of home ownership like PMI, homeowner's insurance & property taxes. Getting a 360 Degree View of Ownership Costs Max Rate (usually initial loan rate +5%): ![]()
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