With an FHA mortgage your payment includes your principal, interest, taxes, and insurance. The monies paid for taxes and insurance are taken out of your monthly payment and put into an escrow account. When each of those bills become due, they are automatically paid for you out of the escrow account. You must pay a years worth of insurance upfront. This is included on your good faith estimate.

Financing Information

• Your Credit Report
• How Much Can You Afford?
• Lending Options
• Down Payment
• Additional Costs
• Can I Use Money Given to Me by Family or Friends?
• What About Taxes and Insurance?

More Information

• See Our Visual Tours
• Search All Listings
• Search Our Listings
• Home Buying Process
• Financing Basics
• Get Preapproved
• Choose Your Agent
• Buyer Agency
• Writing An Offer
• Property Inspections
• The Appraisal
• Negotiating Repairs
• Title Insurance
• Reinspections
• Home Owners Insurance
• Closing