1️⃣ Principal & Interest (typically fixed).
2️⃣ Property Taxes (not fixed).
3️⃣ Homeowners Insurance (also not fixed).
4️⃣ Mortgage Insurance (if your down payment is under 20%)
While your principal and interest usually stay the same, property taxes and insurance can increase as your home’s value goes up.
👉 Pro Tip: Always plan for a little wiggle room in your budget! Expect your payment to rise by $50-100 each year as values adjust.
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