4 ms·
Your principal and interest payment can never go up, but your property tax (which is included as escrow on your mortgage) definitely can. I live in Texas, and
by seansmccullough 4y ago
Your principal and interest payment can never go up, but your property tax (which is included as escrow on your mortgage) definitely can. I live in Texas, and my mortgage will be $400 a month more next year because of rising property tax.
- lijogdfljk 4y agoBut that would go up at the same rate as renting, no? I imagine you're replying mostly to the "mortgage stays fixed" comment, but relatively speaking i think it still holds true. Sure, taxes may change, but so does the value of the dollar, etc. In theory every cost you pay as an owner, you pay as a renter - just with less time investment as a renter. It's a convenience fee.