Question: Does USDA require that I include my monthly taxes and home owners insurance in my mortgage payment each month?
T. Duval – Kissimmee , Fl
USDA home loans (like all Government mortgages) require that your taxes and home owners insurance be included in your monthly mortgage payment. These items are always escrowed. However, unlike many other mortgage programs, USDA does have a monthly mortgage insurance costs – or “ PMI “ premium. I hope this helps, thanks for your question.
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