Taxes and Insurance No Longer a National Average
Calculator results on QuickenLoans.com include taxes and insurance as part of your total monthly payment along with the principle and interest that make up your mortgage payment.
In the past, these taxes and insurance were taken from national averages. Here’s the issue though: If I live in California, my taxes and insurance are very different than if I live in Birmingham, AL.
So, some of the very smart people here at Quicken Loans took it upon themselves to find a better solution. Now, instead of pulling national averages, the Quicken Loans calculator results show taxes and insurances averages for your state. This makes for a much more accurate result and hopefully makes you, the visitor, that much more educated on the entire process.