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starr
little whale on the way
Member since 6/10 1288 total posts
Name:
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property taxes payments
this is probably a very stupid question, but I cant seem to figure out how the pymnts work.
a bit of background: we are looking for a house in westchester, first time home buyers.
so do u pay ur taxes together with mortgage pymnts to the bank who then puts it in an escrow accnt and then pays it on ur behalf when it is due? or do u make ur pymnts urself when they are due 3 times a yr (I checked on the town's website I am interested and that is how they pay, 3 times a yr to school, county and town)
TIA
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Posted 4/4/13 5:14 PM  |
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Kitten1929
LIF Adult
Member since 1/13 6040 total posts
Name:
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property taxes payments
Mine come out with my mortgage payment. If you put 20% down then I believe you can pay it separately.
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| Posted 4/4/13 6:34 PM |
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ElizaRags35
My 2 Girls
Member since 2/09 20494 total posts
Name:
Me
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Re: property taxes payments
Posted by Kitten1929
Mine come out with my mortgage payment. If you put 20% down then I believe you can pay it separately.
Yup. I love that I don't have to think about it.
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| Posted 4/4/13 7:26 PM |
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WannaBeAMom11
LIF Adult
Member since 1/11 7391 total posts
Name:
Name
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property taxes payments
Mine come out with my mortgage payment and they pay my taxes and homeowners insurance.
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| Posted 4/4/13 8:19 PM |
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Kitten1929
LIF Adult
Member since 1/13 6040 total posts
Name:
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Re: property taxes payments
Posted by ElizaRags35
Posted by Kitten1929
Mine come out with my mortgage payment. If you put 20% down then I believe you can pay it separately.
Yup. I love that I don't have to think about it.
Me too!
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| Posted 4/5/13 6:40 AM |
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Hope2009
Thankful
Member since 1/09 4429 total posts
Name:
A
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Re: property taxes payments
I pay mine with my mortgage payments on a monthly basis.
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| Posted 4/5/13 7:30 AM |
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starr
little whale on the way
Member since 6/10 1288 total posts
Name:
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property taxes payments
Thanks everyone! Its nice to know I have an option of paying on my own.
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| Posted 4/5/13 7:33 AM |
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LovesMike
LIF Adult
Member since 8/10 978 total posts
Name:
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Re: property taxes payments
We pays our separately and had the option to do so because we put the 20% down as a pp said.
It makes our monthly payment about 1K less and we just keep track of the deadlines. It's pretty painless. Except for the paying it part.
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| Posted 4/5/13 11:13 AM |
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WannaBeAMom11
LIF Adult
Member since 1/11 7391 total posts
Name:
Name
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property taxes payments
Depending on your loan it may not be an option to pay on your own. We did a VA loan, put 20% down and were not given that option it had to all be bundled. I think it depends on the bank. Good luck.
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| Posted 4/5/13 11:16 AM |
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MrsG823
Just call me Mommy.
Member since 1/11 5570 total posts
Name:
S
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Re: property taxes payments
You can pay the taxes on your own or have them included in the mortgage unless your lender requires them in the mortgage (FHA, etc.)
Where in Westchester are you looking? DH and I just closed on a house in White plains yesterday.
Message edited 4/5/2013 11:23:20 AM.
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| Posted 4/5/13 11:21 AM |
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starr
little whale on the way
Member since 6/10 1288 total posts
Name:
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Re: property taxes payments
Posted by MrsG823
You can pay the taxes on your own or have them included in the mortgage unless your lender requires them in the mortgage (FHA, etc.)
Where in Westchester are you looking? DH and I just closed on a house in White plains yesterday.
first off - congrats!!!! how exciting!!! 
we are most likely will be doing a conventional 20% down loan and no rolling of closing costs into the morgage.
I will make sure to mention to my mortgage lady that I would like if possible to pay my taxes on my own
we are looking EVERYWHERE! we live in New Rochelle currently so we are looking there and we also looked in Ossining, North White Plains, Mt Pleasant area, Mt Kisco. ugh.... hopefully we will find too our home soon
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| Posted 4/5/13 12:18 PM |
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lucky1007
My Princess is Here!
Member since 11/11 1131 total posts
Name:
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Re: property taxes payments
we paid our 6 months of taxes up front with closing bc it was within 45 days of the next payment, then what we pay on a monthly basis gets placed into escrow to pay the next time.
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| Posted 4/5/13 3:44 PM |
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pnbplus1
Family
Member since 5/09 5751 total posts
Name:
Mommy
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Re: property taxes payments
We put down 20% and pay our taxes on our own. We just budget for it monthly and make necessary payments. Like it better than escrow bc with escrow they can require an extra 2 months of payments in your acct so you are paying more than you would if you did it yourself. They do pay interest on what they hold though. For us, we prefered to do it ourselves.
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| Posted 4/5/13 3:48 PM |
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MrsG823
Just call me Mommy.
Member since 1/11 5570 total posts
Name:
S
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Re: property taxes payments
Posted by starr
Posted by MrsG823
You can pay the taxes on your own or have them included in the mortgage unless your lender requires them in the mortgage (FHA, etc.)
Where in Westchester are you looking? DH and I just closed on a house in White plains yesterday.
first off - congrats!!!! how exciting!!!
we are most likely will be doing a conventional 20% down loan and no rolling of closing costs into the morgage.
I will make sure to mention to my mortgage lady that I would like if possible to pay my taxes on my own
we are looking EVERYWHERE! we live in New Rochelle currently so we are looking there and we also looked in Ossining, North White Plains, Mt Pleasant area, Mt Kisco. ugh.... hopefully we will find too our home soon
One of the best suggestions my real estate agent gave me and DH was to narrow our search to a couple of neighborhoods. It really helped. DH and I spent a couple of Saturday afternoons checking out neighborhoods to get a feel for them when families were home. I do not know if you have children or plan to have children but if that is a factor the schools in some parts of Westchester are much better than in others. Good luck!
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| Posted 4/5/13 4:44 PM |
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Onemoretime
LIF Adult
Member since 9/12 1077 total posts
Name:
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Re: property taxes payments
We pay ours 4 times a year, and pay homeowners ins once a year. Good luck on your home search!
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| Posted 4/5/13 6:33 PM |
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