09/05/2026
Your mortgage tip Monday reminder ➡️ A fixed mortgage rate doesn’t always mean a fixed monthly payment 🏡
This is one of those things that can catch homeowners off guard.
When you have a fixed-rate mortgage, the interest rate on your loan stays the same for the life of that loan, so the principal and interest portion of your payment is fixed…
But your total monthly mortgage payment may still change.
Why? Two big reasons:
🏠 Property taxes — Your property taxes can increase or decrease based on changes in your assessed value, exemptions, and local tax rates.
🛡️ Homeowners insurance — Insurance premiums can change from year to year based on your carrier, coverage, property characteristics, claims history, market conditions, and other factors.
If your taxes and insurance are paid through an escrow account, your lender or servicer typically reviews that account periodically. If the amount needed to cover those bills changes, your monthly escrow payment can change with it.
💡 Buyer tip: When we talk about what you can comfortably afford, I don’t want you looking at just the principal and interest. We need to look at the whole housing payment — including estimated taxes, insurance, mortgage insurance (if applicable), and HOA dues.
Because getting approved for a home is one thing. Being comfortable with the payment is what really matters 🖤⚡️
Have questions about how your total mortgage payment is calculated? Send me a message. I’m always happy to break it down.
All loans subject to approval. Equal Housing Lender.