Boston residents can utilize online mortgage calculators to estimate their monthly mortgage payments, taking into account taxes and insurance. These calculators are user-friendly tools that provide an accurate estimate based on the input provided by the user.

One popular online mortgage calculator that Boston residents can use is the Zillow Mortgage Calculator. It allows users to input various details such as loan amount, interest rate, loan term, and property taxes. Additionally, it provides an option to include homeowners insurance and mortgage insurance in the calculation.

For example, let's say a Boston resident is looking to buy a house with a loan amount of $300,000, an interest rate of 3.5%, and a loan term of 30 years. They can input these details into the mortgage calculator, along with an estimated property tax rate and homeowners insurance premium.

Based on this information, the mortgage calculator will provide an estimate of the monthly mortgage payment, including taxes and insurance. It will break down the payment into principal and interest, property taxes, homeowners insurance, and mortgage insurance (if applicable).

It's important to note that the estimated property tax rate and homeowners insurance premium may vary based on the location and specific property. Boston residents can refer to local tax records or consult with insurance providers to obtain accurate figures for these inputs.

By using online mortgage calculators, Boston residents can quickly and easily estimate their monthly mortgage payments, helping them make informed decisions when it comes to purchasing a home.

References:

• Zillow Mortgage Calculator